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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.

TAXguide 15/18: The cash basis for traders and landlords

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.

TAXguide 04/14

Renewals basis for unfurnished rental property.

The Finance Act 2021 impact on owner-managers

Finance Act 2021 introduces changes to corporation tax rates and loss carry-back rules relevant to both companies and unincorporated business owners. Andrew Constable and Richard Jones consider some of these changes, and their impact on the decisions of owner-managers.

Webinars and recordings

Business tax update

The latest key tax rules and reliefs affecting business.

Capital allowances

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.

Capital allowances

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

Capital allowances (plant and machinery)

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

Capital allowances on plant and machinery

Guidance on capital allowances for plant and machinery, highlighting tax planning opportunities and potential pitfalls.

Capital allowances on property transactions

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

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 Acceptable usage terms.

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 library@icaew.com.

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.

Trading income

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.

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.

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.

Representations

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.

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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