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TAXguide 11/19: Capital allowances update

After several years of relatively infrequent and modest changes to the UK capital allowances regime, the October 2018 Budget introduced the largest package of reforms since the major changes of Finance Act 2008 (including the abolition of IBAs, and the introduction of the annual investment allowance and the special rate pool) and the conditions introduced for plant and machinery fixtures by Finance Act 2012 (the pooling and fixed value requirements).


TAXguide 11/19

Tax faculty members can download this guidance in full


This TAXguide will cover the key changes to the capital allowances regime since Tax Practice supplement 21 on the subject in September 2008.

It covers the conditions relating to plant and machinery fixtures introduced by Finance Act 2012, now that those rules have bedded down in practice.

It provides comprehensive information about the Budget 2018 changes – where to find them, how they work, when they apply and so on.

It also outlines key capital allowances case law developments.

It includes examples and practical advice, and its emphasis is on guidance for practitioners and their clients operating within the new rules.