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Capital Items — Need for Change?

Paul Smith, Indirect Tax Partner, PricewaterhouseCoopers, LLP, and Maric Glaser, Technical Officer, Chartered Institute of Taxation, examine the capital items scheme in the light of Kaupunki

 
Paul Smith Indirect Tax Partner PricewaterhouseCoopers LLP and Maric Glaser Technical Officer Chartered Institute of Taxation examine the capital items scheme in the light of Kaupunki
 
The capital items scheme was implemented in the UK in 1990. Both in forming legislation and implementing it Customs & Excise (as they were then) sought to relieve the administrative burdens on businesses. The legislation was framed so as to exclude all capital items except:
 
●     land buildings and certain related works costing not less than £250 000;1 and
 
●     individual items of computer equipment costing...

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