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 the new structures and buildings allowance, are also covered in depth.
The book is the most technical of the three commentary books we publish on capital allowances, and is written for accountants and others who need a fully technical guide. This book complements our A-Z of Plant & Machinery, 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.
“An excellent guide to capital allowances.” – Taxation review of earlier edition.
Ray Chidell MA (Cantab), CTA (Fellow) is director of Claritax Books and of Six Forward Capital Allowances.
New for this edition
The 2020-21 edition contains a wide range of updated material, including the following:
- extensive coverage of structures and buildings allowances, including all statutory provisions and detailed HMRC guidance;
- Upper Tribunal case decisions re SSE Generation and re Dundas Heritable;
- important First-tier Tribunal decisions covering key topics, including the interpretation of “the provision of” plant; “building”; “undertaking”; “install”; “equipment”, “alteration of land” and other terms;
- new case law commentary on distinction between plant and premises;
- additional commentary on connected persons;
- expanded commentary on communal areas and houses of multiple occupation;
- expanded commentary on dwelling-houses;
- major changes to first-year allowances, including those announced in March 2020;
- additional commentary on “licence to occupy”;
- key capital allowances risk areas as identified by HMRC.