CAPITAL-ALLOWANCES

HMRC has outlined its current thinking on options to change the UK tax treatment of leased plant and machinery to ensure the tax rules in this area remain fit for purpose after the adoption of IFRS 16. Michael Everett and Peter Casey (KPMG) consider the background and the various proposals.

Steven Bone

Steven Bone (The Capital Allowances Partnership Ltd) answers a query on a capital allowances s 198 election for plant and machinery fixtures which is being challenged by HMRC.

Mark Middleditch

The monthly review of tax issues affecting the City, by Mark Middleditch (Allen & Overy).

Steven Bone

Steven Bone (The Capital Allowances Partnership Ltd) answers a query on the timing of a capital allowances claim for an office fit-out.

Heather Self

Heather Self (Pinsent Masons) reviews Lloyds Bank Leasing (No. 1) Ltd v HMRC, which examines whether the obtaining of capital allowances was one of the main objects of a transaction.

Peter Vaines

When a trade ceases at midnight on the final day of an accounting period, in which period does the trade end?

Steven Bone

Steven Bone (The Capital Allowances Partnership Ltd) answers a reader query.

Mark Middleditch

HMRC has carried out some spring cleaning on its GAAR guidance. This and other recent developments affecting the City are reviewed by Mark Middleditch (Allen & Overy).

Your guide to the key measures from the Budget, provided by Lexis®PSL Tax and Lexis®PSL Private Client.