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Directors Loan v’s Private Use of Company Assets
Many Directors borrow money from their Limited Company, but there are 2 key costs: A Temporary Corporation Tax Charge of 25% – which can be reclaimed when the loan is repaid...
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How De-pooling Short Life Assets can reduce your tax
In the Finance Bill 2011 the period over which expenditure on plant or machinery can be given “short life assets” (SLA) treatment was extend from 4 year to 8 years. The change will have effect for...
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Would a Partial Capital Allowance Claim reduce your tax bill?
It is not necessary to claim the maximum capital allowances available or even claim them at all, crazy as it might sound there are situations when not claiming capital allowances can reduce your tax...
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Would you give your staff a company motorbike?
Motorbikes have a clear tax advantage over company cars because they are classified as plant and machinery. This is better for both employers and employees. Capital Allowances are restricted on cars...
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The Tax Advantages of Commercial Fit Out
When you carryout out a refurbishment or Fit Out of your business premises you will be entitled to Capital Allowances. Here is quick summary of the main types of allowance. Business Premises...
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Why are Capital Allowances important on commercial property?
The rules are in Capital Allowances Act 2001. Sections 21 and 22 explain the Assets which can’t be claimed and Section 23 lists items that can be claimed Expenditure unaffected by sections 21 and 22...
View ArticleHMO’s denied Capital Allowances
HMRC have recently confirmed their view that common areas in Houses of Multiple Occupation (HMO) are parts of a “dwelling house” and ineligible for capital allowance claims. Claims relating to Houses...
View ArticleCommercial Property Capital Allowances Sideways Relief
IT rental business losses can be set against general income only to the extent that they are attributable to: certain capital allowances,certain agricultural expenses (see PIM4224). Until the 2010-11...
View ArticleThe Tax Issues of Hire Purchase (HP), PCP and Leases for assets – Capital...
When businesses purchase assets they normally use finance, it makes sense to conserve your cash and spread the purchase cost over the life of the asset, but how will you choice impact on whether you...
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