HMRC manual changes: 26 January 2024

Direct taxes

Manual	Page	Comments
Capital Allowances Manual	Updated: CA11145	This update clarifies the guidance on capital allowances and partnerships. The updated page introduces the concepts of 'notional individual' and 'notional company' for partnerships in respect of income tax and corporation tax respectively. This update also provides more examples of capital allowances claims that are only available to companies (including partnership members that are) within the charge to corporation tax (and which are not available to those partnership members that are within the charge to income tax) such as full expensing or the super-deduction.
Capital Gains Manual	Updated: CG73998Y	Guidance on timing of exemption elections for UK property rich collective investment vehicles updated to confirm the circumstances in...

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Direct taxes

Manual	Page	Comments
Capital Allowances Manual	Updated: CA11145	This update clarifies the guidance on capital allowances and partnerships. The updated page introduces the concepts of 'notional individual' and 'notional company' for partnerships in respect of income tax and corporation tax respectively. This update also provides more examples of capital allowances claims that are only available to companies (including partnership members that are) within the charge to corporation tax (and which are not available to those partnership members that are within the charge to income tax) such as full expensing or the super-deduction.
Capital Gains Manual	Updated: CG73998Y	Guidance on timing of exemption elections for UK property rich collective investment vehicles updated to confirm the circumstances in...