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Going down

22 August 2007 / Martin Wilson
Issue: 4122 / Categories: Comment & Analysis , Investments
MARTIN WILSON reviews HMRC's recent consultation document on proposed changes to the system of capital allowances


  • The new annual investment allowance
  • Which businesses will win and which will lose?
  • The new rates of allowances
  • Fixtures integral to a building.
  • The end of IBAs and ABAs

Proposals for changes to the way in which relief will be given for expenditure on plant and machinery have recently been published by HMRC and HM Treasury (see Business tax reform: capital allowances changes July 2007 at

These will affect almost all taxpayers to a greater or lesser extent with investors in property (whether as an investment or for own use) being particularly badly hit.

By the Treasury's own admission the most widespread change a reduction in the rate of allowances generally available will raise an additional £2.27 billion of tax by April 2010.

The package of...

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