Is it time for a rethink of the capital allowances system?
The capital allowances rules set the rates and timing at which capital expenditure can be deducted to arrive at taxable profits in a tax return. Announced on 9 May 2022, […]
Insights
Effect on overseas investment by non-resident capital gains tax for UK commercial property
Factors such as a constant and stable capital growth, reliable rental income, positive exchange rates and regulations have historically made the UK commercial property market a very attractive investment. Historical […]
The underclaimed tax relief to consider as part of new investment in brownfield sites
The Government’s decision to subsidise the development of 1,500 hectares of brownfield land for the creation of 160,000 new homes provides developers with increased motivation to examine the opportunities available […]
Capital allowances claims – is this just a building/structure or could it be plant and machinery?
The recent Upper Tribunal (UT) decision in the case of Urenco Chemplants Limited & Anor v HMRC lends support for making capital allowances claims on functional items in the business […]
ATED Update – Don’t Forget To Check Your Property Values
Whilst increases in property values are welcomed by most, this can have an unexpected impact for those owning residential properties falling within the Annual Tax on Enveloped Dwellings regime (ATED). […]
Should you buy a house for your kids to live in at University?
When a child packs their bags and heads off to University, it is always going to be a big day for parents. However, some see this as an opportunity to simultaneously […]
Changes to Structures and Buildings Allowance
The 2018 Budget saw the introduction of a new Structures and Buildings Allowance (SBA). The allowance is available for contracts entered into after 29 October 2018 and allows for an […]
Investing in the future: Should architecture firms claim R&D tax relief
Few architectural firms request R&D tax relief, even though their activities usually meet HMRC’s requirements. The solutions designed for construction-related issues could qualify for these valued tax reliefs, aiding firms […]
Financial management in 2022: What do commercial property landlords need to know?
In the last stages of 2021, some subsectors of the commercial property market were still seeing low rental income compared to pre-pandemic levels. With the cost of mortgage repayments expected […]
National Minimum Wage Changes April 2022 – Don’t get caught out!
One of the biggest changes we will see in payroll for 2022/23 are the National Minimum Wage (NMW) increases. Chancellor Rishi Sunak said that the increase, “ensures we’re making work […]
Annual Investment Allowance Limit Extension
The Annual Investment Allowance (AIA) gives businesses the opportunity to claim 100% capital allowances in the year of expenditure on qualifying capital assets. £1 million annual investment allowance extended to […]
Podcast: Easing the burden of Stamp Duty Land Tax
Stephen Hemmings, Menzies Tax Partner, alongside Richard Turner, Senior Manager and Viresh Mistry, Assistant Manager, discuss the current rates of Stamp Duty Land Tax and how expensive a £1 million […]
Property – an opportunity for fraud?
The large sums of money involved in property transactions and investment have long attracted a high level of fraudulent activity. However, the explosion in internet use over the last decade […]
Budget 2021 response: A noteworthy for the property & construction sector
The focus for the property and construction sector budget has been on public spending rather than new tax measures. The key headlines are: £1.7bn dedicated upgrading local infrastructure £1.8bn going […]