Davinder Sahota and Yousuf Chughtai (EY) examine a recent FTT decision which shows how complex and large structures can be considered to function as plant for capital allowances purposes, even where other premises-like functions may exist.
Like British Prime Ministers cases exploring the eligibility of a particular asset for PMAs have come thick and fast in recent years. The FTT decision in The Mersey Docks and Harbour Company Ltd v HMRC [2024] UKFTT 1163 (TC) is another addition to an already long list and acts as an important reminder of how finely balanced such assessments can be.
The taxpayer The Mersey Docks and Harbour Company Limited (‘MDHC’) operates the port of Liverpool. Between 2013 and 2017 MDHC developed an extension to Liverpool’s Seaforth Dock terminal named Liverpool2. This new terminal was designed to accommodate larger container vessels which had become more common since the...
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Davinder Sahota and Yousuf Chughtai (EY) examine a recent FTT decision which shows how complex and large structures can be considered to function as plant for capital allowances purposes, even where other premises-like functions may exist.
Like British Prime Ministers cases exploring the eligibility of a particular asset for PMAs have come thick and fast in recent years. The FTT decision in The Mersey Docks and Harbour Company Ltd v HMRC [2024] UKFTT 1163 (TC) is another addition to an already long list and acts as an important reminder of how finely balanced such assessments can be.
The taxpayer The Mersey Docks and Harbour Company Limited (‘MDHC’) operates the port of Liverpool. Between 2013 and 2017 MDHC developed an extension to Liverpool’s Seaforth Dock terminal named Liverpool2. This new terminal was designed to accommodate larger container vessels which had become more common since 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:
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