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Capital allowances

Access expert commentary and practical guidance from ICAEW on capital allowances within the UK tax regime

In this section

Practical guidance

ICAEW's Tax Faculty produces TAXguides to provide practical support on technical areas of tax.

Business tax strategy amid uncertain fiscal policy

Angela Clegg examines practical steps for managing the uncertainty within the tax policy environment, including remuneration for owner-managers, the return of close investment-holding companies, the annual investment allowance and the end of the super deduction.

Webinars and recordings

Capital Allowances

This webinar from the Tax Faculty will explore current issues relating to capital allowances.

Freeport slides

Slides from the Freeport Tax Faculty webinar 19 October 2022.

Capital Allowances

Brought to you by the Tax Faculty, this webinar covers the capital allowances landscape following the provisions in the 2021 Finance Act.

Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Accounting and Tax Service.

Capital allowances

Chapter providing expert guidance on capital allowances in relation to partnership taxation.

Capital allowances (plant and machinery)

Expert commentary on the current UK corporation tax legislation on capital allowances for plant and machinery.

Capital allowances on property transactions

Guidance on capital allowances on property transactions, highlighting tax planning opportunities and potential pitfalls.

Capital allowances

Chapter containing practical advice on capital allowances in relation to incorporating a business.

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Capital allowances on plant and machinery

An outline of allowances for small businesses provided under the Capital Allowances Act 2001. This chapter covers business premises renovation allowance, qualifying expenditure, qualifying building, and other relevant matters.

Capital allowances on plant and machinery

This chapter outlines the essentials of the Capital Allowances Act 2001. It includes a definition of plant and machinery, a list of qualifying activities and a definition of expenditure. There is also a section on the various kinds of allowance, including enhanced capital allowances and annual investment allowance.

Chattels and wasting assets

Explains the nature of chattels and wasting assets as defined by the Taxation of Chargeable Gains Act 1992. Shows where capital allowances are available using a reference table and a worked example.

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.


ICAEW REP 77/21: Basis Period Reform

Pushing through proposals to change basis periods ahead of the expansion of Making Tax Digital will cause as many problems as it solves and would be a backwards step for affected businesses, warns ICAEW in its response to HMRC's consultation on aligning basis periods with the tax year. ICAEW has urged the government not to implement to proposals.

ICAEW REP 35/21 Finance (No.2) Bill - super deduction

Briefing submitted to MPs on 12 April 2021 on Finance (No.2) Bill 2019-21 published by government on 11 March 2021 on clause 9 which relates to super-deductions and other temporary first year allowances.

Further support

Useful links

Some resources that we link to may pre-date the latest amendments to the relevant tax regulations. While these links contain useful information, please treat them with appropriate caution.

Enhanced Structures and Buildings allowances in Freeports

Measure introduced in Budget 2021 offering an enhanced 10% rate of Structures and Buildings Allowance for constructing or renovating non-residential structures and buildings within Freeport tax sites in Great Britain, once they have been designated.

What capital allowances can I claim?

Summary from the Low Incomes Tax Reform Group which explains what capital allowances are and how to claim them.

Capital Allowances Manual

Internal HMRC manual which defines capital allowances, explains how allowances are made and how to claim.

Capital allowances training

A series of short online presentations on capital allowances presented by Ray Chidell, a renowned author on the topic. The talks cover a whole spectrum of capital allowances issues, from fixtures and integral features to the definition of plant and the claiming of allowances, using examples to demonstrate how the rules work out in practice.

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