Capital Allowances: Transactions and Planning 2019/20

Adopting a practical approach, and with a unique transaction-based structure and special features such as pro forma elections and checklists, this book guides you through the practical realities of a claim, rather than just presenting the bare facts of statute and case law. Legislation is comprehensively covered, but with the emphasis on interpretation and explanation, rather than mere repetition of the wording of statute.

Written in plain English, and packed with examples and user-friendly commentaries, the content and advice contained within Capital Allowances: Transactions and Planning 2019/20 has been comprehensively updated to cover the key developments in this area as announced in the Finance (No. 3) Bill 2017-19, these include:

New Structures and Buildings Allowance (SBA)
Annual investment allowance (AIA) increase to £1 million
Abolition of some environmental enhanced capital allowances
Reduction in the special rate of plant and machinery allowances
New case law, including SSE Generation Limited v HMRC [2018] UKFTT 416 (TC) and Glais House Care Ltd v Commissioners for HM Revenue and Customs [2019] UKFTT 59 (TC)

This print edition also consolidates changes made via the previous two years' online updates, including restructuring of historical content and updated commentary.

This book is essential reading for anyone incurring capital expenditure on property and looking to maximise capital allowances and related tax-related reliefs on a wide range of commercial transactions.

List of contents

Chapter 1: Practicalities of a claim
Chapter 2: Construction of new buildings
Chapter 3: Purchase of a newly constructed building
Chapter 4: Purchase of a second-hand building
Chapter 5: Offices - special features
Chapter 6: Retail property - special features
Chapter 7: Industrial property - special features
Chapter 8: Hotels - special features
Chapter 9: Enterprise zones
Chapter 10: Agricultural property - special features
Chapter 11: Property investors - specific issues
Chapter 12: Sale of property
Chapter 13: Acquisition of a business
Chapter 14: Plant: system of allowances
Chapter 15: Plant: the meaning of the term
Chapter 16: Plant: treatment of common items in buildings
Chapter 17: Vehicle fleet
Chapter 18: Leasing and hire-purchase
Chapter 19: Research and development, patents and know-how
Chapter 20: Transactions within groups and between connected persons
Chapter 21: Claiming and disclaiming allowances
Chapter 22: Interaction with other taxes
Chapter 23: International matters
Chapter 24: Contaminated land
Chapter 25: Goodwill and other intangible fixed assets
Appendix 1: Rates of allowances
Appendix 2: Examples of machinery and plant
Appendix 3: Location of enterprise zones
Appendix 4: Case summaries
Appendix 5: Pro forma elections
Appendix 6: Transaction checklists
Appendix 7: Typical amounts of plant allowances
Appendix 8: Pre-contract enquiries and warranties
Appendix 9: Comments on pre-contract enquiries

About the author

Martin Wilson and Steven Bone

Summary

Adopting a practical approach, and with a unique transaction-based structure and special features such as pro forma elections and checklists, this book guides you through the practical realities of a claim, rather than just presenting the bare facts of statute and case law. Legislation is comprehensively covered, but with the emphasis on interpretation and explanation, rather than mere repetition of the wording of statute.

Written in plain English, and packed with examples and user-friendly commentaries, the content and advice contained within Capital Allowances: Transactions and Planning 2019/20 has been comprehensively updated to cover the key developments in this area as announced in the Finance (No. 3) Bill 2017-19, these include:

New Structures and Buildings Allowance (SBA)
Annual investment allowance (AIA) increase to £1 million
Abolition of some environmental enhanced capital allowances
Reduction in the special rate of plant and machinery allowances
New case law, including SSE Generation Limited v HMRC [2018] UKFTT 416 (TC) and Glais House Care Ltd v Commissioners for HM Revenue and Customs [2019] UKFTT 59 (TC)

This print edition also consolidates changes made via the previous two years’ online updates, including restructuring of historical content and updated commentary.

This book is essential reading for anyone incurring capital expenditure on property and looking to maximise capital allowances and related tax-related reliefs on a wide range of commercial transactions.

Foreword

An essential guide for practitioners with clients who are incurring capital expenditure on property and aims to save taxpayers money by helping them to legitimately maximise capital allowances and related tax reliefs on a wide range of commercial transactions.

With a unique transaction-based structure, this book guides you through the practical realities of a claim, rather than just presenting the bare facts of statute and case law. Whilst legislation is comprehensively covered, the emphasis is on interpretation and explanation, by way of many worked examples.

Product details

• Authors: Steven Bone, Martin Wilson, Martin Bone Wilson
• Publisher: Bloomsbury
• Languages: English
• Product format: Paperback / Softback
• Released: 25.07.2019
• EAN: 9781526511171
• ISBN: 978-1-5265-1117-1
• No. of pages: 600
• Subjects: Guides > Law, job, finance > Taxes; Social sciences, law, business > Law > Taxes