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Capital Allowances 2021-22

Capital Allowances 2021-22

Author: Ray Chidell; Jake Iles
Publisher: Claritax Books
ISBN: 9781912386376

Previous Edition ISBN: 9781912386284
Published In: May 2021
Format: Paperback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
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A practical, comprehensive guide to the UK system of capital allowances.

Use this book to avoid costly errors, and to maximise tax relief, thereby protecting the interests of all businesses and commercial property owners. Detailed and practical guidance on key topics re plant and machinery allowances: cars, fixtures in property, annual investment allowances, special rate expenditure, short-life assets, etc. Other allowances, including those for capital expenditure on R&D, and also structures and buildings allowance, are also covered in depth.

The book is written for accountants and others who need a fully technical guide. It complements our A-Z of Plant & Machinery, which shows the application of the plant and machinery rules to more than 300 specific types of expenditure, and the two may be bought together as a discounted bundle - see top of page. Together, the two books offer more than 1,000 pages of practical and clearly written commentary, arranged in a user-friendly and accessible format.

Preface to 2021-22 edition

Abbreviations

GENERAL PRINCIPLES

1. Introduction and general principles

PLANT AND MACHINERY ALLOWANCES

2. Introduction

3. Qualifying activities

4. Qualifying expenditure

5. Allowances and charges

6. Hire purchase and assets provided by lessees

7. Long funding leases

8. Software

9. Cars (and other vehicles)

10. Fixtures in property – principles and definitions

11. Fixtures claims for new buildings

12. Fixtures claims – allowances for the buyer

13. Fixtures claims – the seller’s perspective

14. Fixtures claims – worked examples

15. Short-life assets

16. Long-life assets

17. Specialrate expenditure

18. Partnerships and successions

19. Overseas leasing

20. Ships

21. Mining and oil industries

22. Anti-avoidance

23. Additional VAT liabilities and rebates

OTHER ALLOWANCES

24. Structures and buildings allowances

25. Mineral extraction allowances

26. Research and development allowances

27. Know-how allowances

28. Patent allowances

29. Dredging allowances

30. Former allowances

OTHER PROVISIONS

31. Contributions

32. Final provisions

APPENDICES:

Appendix 1 – Northern Ireland

Appendix 2 – Case studies re fixtures

Appendix 3 – HMRC toolkit

Appendix 4 – Historic rates

Table of legislation

Index of cases

General index

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