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This book is now Out of Print.
A new edition has been published, the details can be seen here:
Capital Allowances 2021-22 isbn 9781912386376

Capital Allowances 2020-21


ISBN13: 9781912386284
New Edition ISBN: 9781912386376
Previous Edition ISBN: 9781912386192
Published: April 2020
Publisher: Claritax Books
Country of Publication: UK
Format: Paperback
Price: Out of print



A practical, comprehensive guide to the UK system of capital allowances.

Use this book to avoid costly errors, and to maximise tax relief, thereby protecting the interests of all businesses and commercial property owners. Detailed and practical guidance on key topics re plant and machinery allowances: cars, fixtures in property, annual investment allowances, special rate expenditure, short-life assets, etc. Other allowances, including those for capital expenditure on R&D, and also structures and buildings allowance, are also covered in depth.

The book is written for accountants and others who need a fully technical guide. It complements our A-Z of Plant & Machinery, which shows the application of the plant and machinery rules to more than 300 specific types of expenditure, and the two may be bought together as a discounted bundle - see top of page. Together, the two books offer more than 1,000 pages of practical and clearly written commentary, arranged in a user-friendly and accessible format.

The 2020-21 edition contains a wide range of updated material, including the following:

  • extensive coverage of structures and buildings allowances, including all statutory provisions and detailed HMRC guidance
  • Upper Tribunal case decisions re SSE Generation and re Dundas Heritable
  • important First-tier Tribunal decisions covering key topics, including the interpretation of "the provision of" plant, "building", "undertaking", "install", "equipment", "alteration of land" and other terms
  • new case law commentary on distinction between plant and premises
  • additional commentary on connected persons
  • expanded commentary on communal areas and houses of multiple occupation
  • expanded commentary on dwelling-houses
  • major changes to first-year allowances, including those announced in March 2020
  • additional commentary on "licence to occupy"
  • key capital allowances risk areas as identified by HMRC

Subjects:
Taxation
Contents:
Preface to 2020-21 edition
Abbreviations
GENERAL PRINCIPLES
1. Introduction and general principles
PLANT AND MACHINERY ALLOWANCES
2. Introduction
3. Qualifying activities
4. Qualifying expenditure
5. Allowances and charges
6. Hire purchase and assets provided by lessees
7. Long funding leases
8. Software
9. Cars (and other vehicles)
10. Fixtures in property – principles and definitions
11. Fixtures claims for new buildings
12. Fixtures claims – allowances for the buyer
13. Fixtures claims – the seller’s perspective
14. Fixtures claims – worked examples
15. Short-life assets
16. Long-life assets
17. Special rate expenditure
18. Partnerships and successions
19. Overseas leasing
20. Ships
21. Mining and oil industries
22. Anti-avoidance
23. Additional VAT liabilities and rebates
OTHER ALLOWANCES
24. Structures and buildings allowances
25. Mineral extraction allowances
26. Research and development allowances
27. Know-how allowances
28. Patent allowances
29. Dredging allowances
30. Former allowances
31. Contributions
OTHER PROVISIONS
32. Final provisions
APPENDICES
Appendix 1 – Northern Ireland
Appendix 2 – Case studies re fixtures
Appendix 3 – HMRC toolkit
Appendix 4 – Historic rates
Table of legislation
Index of cases
General index

Series: Claritax Books

Cryptocurrency and Other Digital Assets: Tax Law and Practice ISBN 9781912386536
To be published June 2022
Claritax Books
£80.00
Taxpayer Safeguards and the Rule of Law 2nd ed ISBN 9781912386512
To be published February 2022
Claritax Books
£85.00
Tax Appeals: Law and Practice at the FTT 5th ed ISBN 9781912386604
To be published February 2022
Claritax Books
£85.00
Discovery Assessments: How to Challenge Them 3rd ed ISBN 9781912386598
Published January 2022
Claritax Books
£85.00
Construction Industry Scheme: Guidance and Commentary 3rd ed ISBN 9781912386451
Published November 2021
Claritax Books
£80.00
Personal Representatives: A Guide for Tax Practitioners 2nd ed ISBN 9781912386413
Published August 2021
Claritax Books
£85.00
Schedule 36 Notices - HMRC information requests ISBN 9781912386499
Published July 2021
Claritax Books
£85.00
Capital Allowances 2021-22 ISBN 9781912386376
Published May 2021
Claritax Books
£95.00
Inheritance Tax: Lifetime Transfers and the Death Estate ISBN 9781912386345
Published October 2020
Claritax Books
£95.00
Pension Tax Guide 2020-21 ISBN 9781912386369
Published August 2020
Claritax Books
Out of print
Financial Planning with Trusts 2020-21 ISBN 9781912386338
Published August 2020
Claritax Books
Out of print
Out of print
Furnished Holiday Lettings: A Tax Guide 4th ed ISBN 9781912386222
Published June 2020
Claritax Books
£70.00
Taxation of Partnerships ISBN 9781912386314
Published June 2020
Claritax Books
£85.00
Main Residence Relief 3rd ed ISBN 9781912386239
Published April 2020
Claritax Books
£80.00
A-Z of Plant & Machinery 2020-21 ISBN 9781912386277
Published April 2020
Claritax Books
Out of print
Living and Working Abroad ISBN 9781912386260
Published February 2020
Claritax Books
£50.00
Property Investment: A Tax Guide ISBN 9781908545749
Published October 2019
Claritax Books
£95.00
Tax Appeals: Law and Practice at the FTT 4th ed ISBN 9781908545879
Published June 2019
Claritax Books
Out of print
Capital Allowances: 2019-20 ISBN 9781912386192
Published May 2019
Claritax Books
Out of print
A-Z of Plant & Machinery 2019-20 ISBN 9781912386215
Published May 2019
Claritax Books
Out of print
£80.00
Out of print
Personal Representatives: A Guide for Tax Practitioners ISBN 9781912386116
Published March 2019
Claritax Books
Out of print
Stamp Duty Land Tax: A Practical Guide 6th ed ISBN 9781912386178
Published March 2019
Claritax Books
Out of print
Discovery Assessments: How to Challenge Them 2nd ed ISBN 9781912386161
Published February 2019
Claritax Books
Out of print
Managing Risk: A Guide for Accountants and Tax Advisers ISBN 9781912386130
Published February 2019
Claritax Books
£40.00
Employment Status: A Tax Guide 4th ed ISBN 9781912386024
Published January 2019
Claritax Books
£85.00
Employee Share Schemes: Equity Reward for Private Companies ISBN 9781912386031
Published July 2018
Claritax Books
£85.00
Financial Planning with Trusts 2018-19 ISBN 9781912386109
Published July 2018
Claritax Books
Out of print
A-Z of Plant & Machinery 2018-19 ISBN 9781912386062
Published July 2018
Claritax Books
Out of print
Capital Allowances: 2018-19 ISBN 9781912386055
Published July 2018
Claritax Books
Out of print
Enterprise Investment Scheme and Other Venture Capital Reliefs ISBN 9781912386048
Published May 2018
Claritax Books
£70.00
VAT Registration: Unravelling the Complexities 2nd ed ISBN 9781912386000
Published February 2018
Claritax Books
£60.00
Construction Industry Scheme: Guidance and Commentary 2nd ed ISBN 9781908545954
Published November 2017
Claritax Books
Out of print
Furnished Holiday Lettings: A Tax Guide 3rd ed ISBN 9781908545732
Published June 2017
Claritax Books
Out of print
Residence: The Definition in Practice 3rd ed ISBN 9781908545817
Published January 2016
Claritax Books
Out of print
Research and Development: Maximising the Tax Relief ISBN 9781908545619
Published December 2014
Claritax Books
Out of print
Tax Chamber Hearings: A User's Guide 3rd ed ISBN 9781908545527
Published April 2014
Claritax Books
Out of print
PAYE: A Practical Guide 2012-13 ISBN 9781908545176
Published October 2012
Claritax Books
Out of print
Capital Allowances for Fixtures: 2012-13 ISBN 9781908545152
Published April 2012
Claritax Books
Out of print