Updated the guidance on the scope of the manual to remove reference to enterprise zone allowances and business premises renovation allowances and amend the list of types of capital allowances currently available.
Updated the guidance on the history of capital allowances to rewrite the section on changes post 2008.
Also updated to confirm that: 100% FYAs can only be claimed on expenditure on energy-saving plant and machinery and environmentally beneficial plant and machinery to 1/6 April 2020 and that business premises renovation allowances were withdrawn in 2017
HMRC has updated its guidance on the patent box and: profits arising before grant of right, IP losses and the transfer of a trade, the streaming income requirement, and small claims treatment for notional royalty appropriate percentage and global streaming.
Updated guidance on how to make a return of information under the Venture Capital Trust Regulations 1995, SI 1995/1979, regs 22 and 22A. Updated guidance on VCT returns to remove the option of submitting an annual information return by electronic text file. The previous version of VCM58100 stated that an annual info return could be submitted in one of two ways; the first being an electronic text file and the second being a VCT spreadsheet. The current version of VCM58100 states that the annual info return can be sent by VCT spreadsheet (ie an excel spreadsheet template).
Updated to confirm the guidance on SDLT on de-enveloping transactions is under review following the decision of the Supreme Court in Project Blue and the updates to the FA 2003, s 75A guidance.
Updated the guidance on the scope of the manual to remove reference to enterprise zone allowances and business premises renovation allowances and amend the list of types of capital allowances currently available.
Updated the guidance on the history of capital allowances to rewrite the section on changes post 2008.
Also updated to confirm that: 100% FYAs can only be claimed on expenditure on energy-saving plant and machinery and environmentally beneficial plant and machinery to 1/6 April 2020 and that business premises renovation allowances were withdrawn in 2017
HMRC has updated its guidance on the patent box and: profits arising before grant of right, IP losses and the transfer of a trade, the streaming income requirement, and small claims treatment for notional royalty appropriate percentage and global streaming.
Updated guidance on how to make a return of information under the Venture Capital Trust Regulations 1995, SI 1995/1979, regs 22 and 22A. Updated guidance on VCT returns to remove the option of submitting an annual information return by electronic text file. The previous version of VCM58100 stated that an annual info return could be submitted in one of two ways; the first being an electronic text file and the second being a VCT spreadsheet. The current version of VCM58100 states that the annual info return can be sent by VCT spreadsheet (ie an excel spreadsheet template).
Updated to confirm the guidance on SDLT on de-enveloping transactions is under review following the decision of the Supreme Court in Project Blue and the updates to the FA 2003, s 75A guidance.
