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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.

Camping pods and capital allowances

What is a building for capital allowances purposes? This was the question in a recent tax case concerning camping pods, as Stephen Relf discovers.

Camping pods and capital allowances

What is a building for capital allowances purposes? This was the question in a recent tax case concerning camping pods, as Stephen Relf discovers.

Changes to the cash basis for traders

Richard Jones considers the changes provided for by Finance Bill 2023-24 to the cash basis for trades subject to income tax.

Changes to the cash basis for traders

Richard Jones considers the changes provided for by Finance Bill 2023-24 to the cash basis for trades subject to income tax.

Emerging opportunities and pitfalls in real estate tax

Guy Richardson and Mark Fielden, from the real estate and construction team at Moore Kingston Smith, recently presented an ICAEW webinar on “Emerging opportunities and current pitfalls in the tax regime for property investment and trading”. In this article we want to accentuate some of the practical tax complexities discussed in the webinar. Subsequently, in light of the Chancellor of the Exchequer’s recent Autumn Statement on 22 November 2023, we want to explore how current tax policy continues to create uncertainty in the real estate and construction sector.

Webinars and recordings

Capital allowances: the curious case of camping pods

The Tax Track is the new podcast series from ICAEW where we explore the latest from the tax world, and what it means for tax professionals, accountants, taxpayers and businesses. In this episode, we take a look at the wider implications of an unusual capital allowance case regarding camping pods that went to tribunal.

Capital Allowances

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

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 around 80 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 (plant and machinery)

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

Capital allowances

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

Capital allowances

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

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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.

Representations

ICAEW REP 107-23 Autumn Statement 2023

A representation dated 13 October 2023 to a consultation published by HM Treasury ahead of the Autumn Statement taking place on 22 November 2023.

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.

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.

Claim capital allowances

Capital allowances are a type of tax relief for businesses. They let you deduct some or all of the value of an item from your profits before you pay tax.

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.

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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