Steve Watts and Sean Alexander (BDO) provide a practical guide to a common practice for most commercial property transactions.
Background: capital allowances disposals
Capital allowances are available for UK taxpayers who incur qualifying capital expenditure on certain asset classes. Accounting depreciation for capital expenditure incurred is generally non-tax deductible with tax depreciation for tangible fixed assets being available in the form of capital allowances.
The most common capital allowance claimed is plant and machinery allowances (under CAA 2001 Part 2). Most practitioners will be very familiar with claims for plant and machinery allowances what assets can qualify for the relief and how these allowances are claimed i.e. at the main rate (CAA 2001 s 54) and special rate (CAA 2001 s 104C) pools and as writing down allowances on a reducing balance basis or as part of the annual investment allowance (AIA) threshold (CAA 2001...
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Steve Watts and Sean Alexander (BDO) provide a practical guide to a common practice for most commercial property transactions.
Background: capital allowances disposals
Capital allowances are available for UK taxpayers who incur qualifying capital expenditure on certain asset classes. Accounting depreciation for capital expenditure incurred is generally non-tax deductible with tax depreciation for tangible fixed assets being available in the form of capital allowances.
The most common capital allowance claimed is plant and machinery allowances (under CAA 2001 Part 2). Most practitioners will be very familiar with claims for plant and machinery allowances what assets can qualify for the relief and how these allowances are claimed i.e. at the main rate (CAA 2001 s 54) and special rate (CAA 2001 s 104C) pools and as writing down allowances on a reducing balance basis or as part of the annual investment allowance (AIA) threshold (CAA 2001...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
