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 not less than £50 000.2
There can be no doubt that for larger businesses that only capitalise significant items of expenditure the...
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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 not less than £50 000.2
There can be no doubt that for larger businesses that only capitalise significant items of expenditure the...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
