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, […]
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, […]
Tighter restrictions which are specifically designed to flush out ill-gotten gains have recently been introduced for UK property ownership by offshore individuals and companies. Whilst their impact could be far […]
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 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 […]
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 […]
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). […]
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 […]
The creative industries sector has received a major vote of confidence, with Weston Williamson + Partners – one of the UK’s leading architecture and urban design practices – joining Egis, […]
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 […]
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 […]
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 […]
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 […]
Research & Development (R&D) is not all about laboratory scientists in white coats, architectural practices may qualify through the solutions they design and develop for construction-related problems. Qualifying expenditure must […]
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 […]