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Don’t Miss the Deadline to Claim Capital Allowances for 2016! Deadline: 31st January 2018 The deadline for completing 2017 Self Assessment returns and for amending 2016 Tax Returns is 31st January 2018. Now is the opportunity to review your Clients tax position to determine who may benefit from the tax savings available, by claiming Property Capital Allowances on the Embedded…

The incorrect interpretation of the New Rules regarding Capital Allowances that came into force in 2014, are now resulting in serious tax losses for some UK taxpayers – we can  Commercial Property – New Rules New Rules came into force in 2014 that dictated how Capital Allowances should be treated at the point of disposal…

    Could Your Company Save With R&D Tax Credits? Research and Development (R&D) Tax relief and credits gives a tax advantage to companies, both small to medium enterprises and large companies who are spending money on business innovation. This government incentive is designed to encourage companies to invest in innovative projects in science and technology and claim…

Operational Changes The majority of you will not be aware that the Capital Allowances and R&D Division of CCH now known as Croner Taxwise has in fact been Capital Allowance Review Service Limited, a white label arrangement that operated from the beginning. The operational changes have ceased with effect from 1st September 2017 but will not…

Question: My Client is considering a Property Capital Allowance claim.  Will this impact the CGT calculations on disposal? Answer: No. A common misconception is the view that any savings achieved by claiming capital allowances will be cancelled out later by an increased chargeable gain. This is not true and made clear in s41(1) Taxation of…

Capital Allowance Division – We would like to do it better, but don’t have the time, resource or expertise You may recognise this sentiment and we are certainly seeing it prevail in the area of PEFFs, (Property Embedded Fixtures & Features), a part of the Capital Allowance legislation. Please note, this is not a new…

Identifying Property Capital Allowances can Reduce Your Tax Bill Hundreds of thousands of pounds are routinely being missed or lost by UK Tax Payers – Are you one of them? – Are you a UK Tax Payer with Commercial Property Interests? – Have you spent capital buying, extending or improving Commercial Property? – Have you…

Legislation affecting Commercial Property transactions post April 2014     Commercial property transactions post April 2014, where the freehold is sold or acquired by parties that are liable for UK tax, are subject to a dramatic change in legislation. Commercial property improvements and transactions pre April 2014 are not affected by this legislation. Property Embedded…

Property Embedded Fixtures and Fittings (PEFF’s) Capital Allowances are available to all types of commercial property owners, including pubs, restaurants, hotels and care homes.  The tax savings from an additional layer of scrutiny by highlighting capital allowable items embedded within commercial property, is significant.  Claims handled by Capital Allowance Review Service have ranged between £59,000…

 Capital Allowance Pools – Requirements The new property rules have created a confusing scenario due to having two pools for fixtures and fittings.  One pool for movable items such as tables, chairs, machinery, etc and another pool for the fixed items; plumbing, electrical systems, radiators and door handles etc.  For tax purposes, the value of the fixed…