This guidance provides a summary of key tax rates, allowances and reliefs for 2017/18, 2018/19 and 2019/20.
ICAEW members have free access to an exclusive capital allowances helpline service, provided by Catax Solutions.
HMRC contact information, including telephone numbers, online options and postal addresses, together with tips.
Tax is a fast-moving and ever-changing world. Our expert staff and volunteers, and consultation work with government, means we can bring you the latest developments and expert opinions. Join today to access our resources and keep on top tax form.
ICAEW's Tax Faculty produces TAXguides to provide practical support on technical areas of tax.
Rishi Sunak delivered his first Budget of 2020 on 11 March. The Tax Faculty provides its summary of all the key tax announcements in this TAXguide.
This TAXguide will cover the key changes to the capital allowances regime since Tax Practice supplement 21 on the subject in September 2008.
In this practical TAXguide Sarah Bradford, director of Writetax and editor of Small Business Tax and Finance, explores the cash basis of assessment as it applies to traders and landlords. Read a summary here, Tax Faculty members can download the full guide.
Renewals basis for unfurnished rental property.
Features and articles
Bryan Crawford explains why cooperation and planning are fundamental when dealing with fixture sales.
12 November 2020: The UK government is extending the £1m annual investment allowance cap for a further year in a bid to stimulate investment.
Lindsey Wicks looks at the ramifications of the judgement in Payne & Ors v Revenue & Customs  EWCA Civ 889.
Andy Tall provides practical reminders of the tax considerations when closing down a company.
24 August: ICAEW members working in business and non-profits, and those who are unemployed, have been given access to more than 60 tax and accountancy titles from Bloomsbury until the end of October.
Investment in infrastructure and innovation to support growth were two key features within the Spring Budget. Lindsey Wicks examines the role that tax reliefs play in delivering the government’s goals, including going into detail about simple and certain reliefs.
A budget update from Ros Rowe, subject matter expert for the Construction & Real Estate Community
Taxing a new car or van will depend on its eco credentials, and whether it’s defined as a car or a van, which is not always straightforward.
Webinars and recordings
The latest key tax rules and reliefs affecting business.
This webinar provides illustrative examples and practical tips on how to maximise capital allowances and take advantage of the reliefs available.
Bloomsbury Core 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 Core Accounting and Tax Service.
Guidance on capital allowances on property transactions, highlighting tax planning opportunities and potential pitfalls.
A full chapter providing a practical overview of the taxation of self-employment income in the UK.
Expert commentary on the current UK corporation tax legislation on capital allowances for plant and machinery.
Chapter on the scope for capital allowances claims provided by the special features and assets of hotels.
Guide explaining the practical and technical aspects of capital allowances and the related tax reliefs on property.
Chapter providing expert guidance on capital allowances in relation to partnership taxation.
Chapter containing practical advice on capital allowances in relation to incorporating a business.
Guidance on capital allowances for plant and machinery, highlighting tax planning opportunities and potential pitfalls.
The Library & Information Service provides a collection of eBooks as a benefit of membership. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact firstname.lastname@example.org.
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.
Explains how corporation tax applies to trading income and the ways in which it differs from income taxation. Covers the annual investment allowance, first-year tax credits and capital allowances for 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.
A response dated 24 April 2019 to a consultation published by HMRC on 13 March 2019.
A response dated 4 February 2019 to a consultation published by HMRC on 29 October 2018.
ICAEW responds to the business lifecycle review call for evidence published by the Office of Tax Simplification in October 2018.
Letter to Rt Hon Mel Stride - Temporary increase of annual investment allowance
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.
Summary from the Low Incomes Tax Reform Group which explains what capital allowances are and how to claim them.
HMRC internal manual providing guidance on the meaning of research and development, qualifying expenditure, allowances and charges, disposal events and disposal values, demolition costs, and additional VAT.
Extensive collection of HMRC guidance on claiming and working out your capital allowances.
Internal HMRC manual which defines capital allowances, explains how allowances are made and how to claim.
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.
ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.