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Latest Insights

100% Full Expensing – What is it and why it’s important
Hailed as the “Greatest Tax Break in History” when it was introduced in 2021, the 130% Super Deduction aimed to take some of the sting away from the hike in Corporation Tax rate that was announced in the same speech. Its replacement, Full Expensing (FE), took over in April 2023 as a slightly less headline-grabby 100% First Year Allowance. But what is it?

09 Sep 2024

Written by: Russell Bennett

Some Good News for Furnished Holiday Let Owners
Positive transitional rules have now been published allowing Furnished Holiday Let owners the ability to use Capital Allowances beyond April 2025

05 Aug 2024

Written by: David Gibson

Case Ruling – HMRC v Altrad Services Limited
The decision by the Court of Appeal will have far reaching implications in that it clearly resets the boundaries of what is a capital allowances avoidance scheme designed to increase the quantum of capital allowances claimed

10 Jul 2024

Written by: David Gibson

Archive

Spring Budget Update

06 Mar 2024

Written by: David Gibson

Capital v Revenue – Understand The Risks v Benefit

24 Jan 2024

Written by:

First Year Allowances for Corporate Members of Partnerships

19 Jan 2024

Written by: Abu Choudhury

Substantial Unclaimed Capital Allowances On Existing Assets

23 Oct 2023

Written by: David Gibson

The Risk to Lawyers of Not Correctly Addressing Capital Allowances

23 Oct 2023

Written by: David Harper

Maximising Capital Allowances and Avoiding Pitfalls Through Timing

23 Oct 2023

Written by:

Use Capital Allowances to Help Pay for Higher Spec Offices

23 Oct 2023

Written by: Nolan Masters

HMRC Capital Allowances Enquiries Focusing On Certain Sectors

26 Sep 2023

Written by: David Gibson

Unearthing Hidden Treasures – LGT Wealth Article

01 Sep 2023

Written by: David Gibson

 

19 Mar 2024
Capital Allowances Breakfast Seminar – London

We will be hosting a breakfast seminar on Tuesday 19 March in London, at The Lansdowne Club, 9 Fitzmaurice Place, Mayfair between 8.30am and 10am. The session will cover the benefit of capital allowances, recent changes to the legislation, how to identify opportunities to claim and include reference to recent case law.

16 Nov 2023
The Commercial Property Network Conference & Cocktail Party

Attended by all 32 Network member firms from across the country as well as the Network Partners, the keynote speaker is David Smith, Economic Editor of The Sunday Times

27 Apr 2023
Capital Allowances Breakfast Seminar – Manchester 2023

We will be hosting a breakfast seminar on Thursday 27 April in Manchester, at The Department, 18 Lower Byrom Street between 8am and 10am. The session will cover the benefit of capital allowances, recent changes to the legislation, how to identify opportunities to claim and include reference to recent case law.

18 Apr 2023
Capital Allowances Breakfast Seminar – London

We will be hosting a breakfast seminar on Tuesday 18 April in London, at The Lansdowne Club, 9 Fitzmaurice Place, Mayfair between 8.30am and 10am. The session will cover the benefit of capital allowances, recent changes to the legislation, how to identify opportunities to claim and include reference to recent case law.

22 Feb 2023
Brunel University KTP Showcase Event Speaker

Veritas Director Clive Curd presented at the Brunel University Knowledge Transfer Partnership (KTP) showcase event focussing on the experience with a KTP in developing a tax assisted Artificial Intelligence (AI) system to assist SMEs in capturing tax relief.

07 Feb 2023
ICAEW Panel Speaker – Build to Rent Webinar

Veritas Director Clive Curd, alongside other invited panel members, is discussing key direct tax implications, including Capital Allowances, associated with build to rent projects at various stages.

16 Nov 2022
Launch of The Commercial Property Network

25 Nov 2021
Capital Allowances Breakfast Seminar – Manchester 2021

We will be hosting a breakfast seminar on Thursday 25 November in Manchester, venue to be confirmed. The session will cover the benefit of capital allowances, recent changes to the legislation, how to identify opportunities to claim and include reference to recent case law.

09 Nov 2021
Capital Allowances Breakfast Seminar – London

We will be hosting a breakfast seminar at our offices on Tuesday 9 November 2021. The session will cover the benefit of capital allowances, recent changes to the legislation, how to identify opportunities to claim and include reference to recent case law.

Latest News

100% Full Expensing – What is it and why it’s important

09 Sep 2024
Hailed as the “Greatest Tax Break in History” when it was introduced in 2021, the 130% Super Deduction aimed to take some of the sting away from the hike in Corporation Tax rate that was announced in the same speech. Its replacement, Full Expensing (FE), took over in April 2023 as a slightly less headline-grabby 100% First Year Allowance. But what is it?

Some Good News for Furnished Holiday Let Owners

05 Aug 2024
Positive transitional rules have now been published allowing Furnished Holiday Let owners the ability to use Capital Allowances beyond April 2025

Case Ruling – HMRC v Altrad Services Limited

10 Jul 2024
The decision by the Court of Appeal will have far reaching implications in that it clearly resets the boundaries of what is a capital allowances avoidance scheme designed to increase the quantum of capital allowances claimed

Spring Budget Update

06 Mar 2024
Chancellor Jeremey Hunt announces changes to the capital allowances legislation affecting furnished holiday let owners

Capital v Revenue – Understand The Risks v Benefit

24 Jan 2024
As we are fast approaching the self assessment filing deadline for individuals and the amendment window for corporate entities with a year end of March, understanding the importance of what constitutes capital or revenue expenditure, and the risks and benefits associated with it, is extremely important.

First Year Allowances for Corporate Members of Partnerships

19 Jan 2024
In a positive move HMRC have updated their capital allowances guidance for partnerships stating that partnerships with underlying corporate partners can claim first year allowances

Substantial Unclaimed Capital Allowances On Existing Assets

23 Oct 2023
Capital Allowances provide an opportunity to save substantial amounts of money in a lean market yet many property owners and occupiers are already sitting on vast savings without even knowing it.

The Risk to Lawyers of Not Correctly Addressing Capital Allowances

23 Oct 2023
Solicitors acting for clients on a purchase or disposal of a commercial property must ensure they correctly address capital allowances; failure to do so may give rise to reputational and / or financial risk.

Maximising Capital Allowances and Avoiding Pitfalls Through Timing

23 Oct 2023
The rules surrounding the transition between Super Deduction and Full Expensing can be complex and the importance of fully analysing and understanding any contract for construction or purchase is significant.
23 September 2022

New & Extended Accelerated Capital Allowances

Written by

New & Extended Accelerated Capital Allowances

To encourage investment Chancellor Kwasi Kwarteng today introduced a number of tax cuts whilst simultaneously expanding the Capital Allowances legislation and extending accelerated incentives that were due to expire in March 2023.

  • Annual Investment Allowance to be permanently set at £1,000,000
  • Corporation Tax to remain at 19%
  • 130% super deduction technical provisions to be amended
  • Higher rate income tax of 45% abolished
  • Introduction of new investment zones:
    • 100% Enhanced Capital Allowances on Plant & Machinery
    • 20% Structures and Buildings Allowance

Reforms included within the recent Capital Allowances consultation, plus detail supporting the new measures introduced today, will follow later in the year.

Insights

Related insights

100% Full Expensing – What is it and why it’s important

Hailed as the “Greatest Tax Break in History” when it was introduced in 2021, the 130% Super Deduction aimed to take some of the sting away from the hike in Corporation Tax rate that was announced in the same speech. Its replacement, Full Expensing (FE), took over in April 2023 as a slightly less headline-grabby 100% First Year Allowance. But what is it?

Some Good News for Furnished Holiday Let Owners

Positive transitional rules have now been published allowing Furnished Holiday Let owners the ability to use Capital Allowances beyond April 2025

Events & Seminars

What's on

19 Mar 2024

Capital Allowances Breakfast Seminar – London

16 Nov 2023

The Commercial Property Network Conference & Cocktail Party

27 Apr 2023

Capital Allowances Breakfast Seminar – Manchester 2023