HMRC manual changes: 17 November 2023

Direct taxes

Manual	Page	Comments
Capital Allowances Manual	Updated: CA23110	Page on plant and machinery first year allowance (FYA) amended to remove environmentally beneficial and energy-saving technologies as a category of expenditure on which FYA is available and to add it as a repealed FYA category. Paragraph added to cover the two temporary FYAs introduced by Finance (No.2) Act 2023 for specific periods. Guidance added on expenditure that is incurred before a qualifying activity begins including a new example.
Capital Gains Manual	Updated: CG53120	Substantial shareholdings exemption guidance updated to clarify that a company will still be considered to be a trading company where its activities do not include ‘to a substantial extent’ activities other than trading...

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:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.

Once you have registered, you will receive an email directing you back to read this article in full.

Direct taxes

Manual	Page	Comments
Capital Allowances Manual	Updated: CA23110	Page on plant and machinery first year allowance (FYA) amended to remove environmentally beneficial and energy-saving technologies as a category of expenditure on which FYA is available and to add it as a repealed FYA category. Paragraph added to cover the two temporary FYAs introduced by Finance (No.2) Act 2023 for specific periods. Guidance added on expenditure that is incurred before a qualifying activity begins including a new example.
Capital Gains Manual	Updated: CG53120	Substantial shareholdings exemption guidance updated to clarify that a company will still be considered to be a trading company where its activities do not include ‘to a substantial extent’ activities other than trading...