HMRC manual changes: 20 October 2023

Direct taxes

Manual	Page	Comments
Capital Allowances Manual	New: CA23174AA—CA23174AF	New chapter added setting out guidance on the capital allowances changes introduced by Finance (No 2) Act 2023 namely temporary full expensing for main rate plant and machinery (P&M) and the extension of the 50% first year allowance (FYA) for special rate P&M: • CA23174AB provides guidance on the conditions that must be met for expenditure to qualify for full expensing or the 50% FYA • CA23174AC describes the kinds of expenditure that are excluded from being qualifying expenditure • CA23174AD-CA2317AE sets out how to calculate the balancing charge arising on the disposal of P&M on which full expensing or 50% FYAs have been claimed and • CA23174AF provides guidance on the new...

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	New: CA23174AA—CA23174AF	New chapter added setting out guidance on the capital allowances changes introduced by Finance (No 2) Act 2023 namely temporary full expensing for main rate plant and machinery (P&M) and the extension of the 50% first year allowance (FYA) for special rate P&M: • CA23174AB provides guidance on the conditions that must be met for expenditure to qualify for full expensing or the 50% FYA • CA23174AC describes the kinds of expenditure that are excluded from being qualifying expenditure • CA23174AD-CA2317AE sets out how to calculate the balancing charge arising on the disposal of P&M on which full expensing or 50% FYAs have been claimed and • CA23174AF provides guidance on the new...