What liabilities arise and what values should be allocated on an asset transfer?
Allocating revenue and capital expenditure between the co-owners of a property
Can capital allowances be claimed on a car purchased personally for company use?
Capital allowances available on second-hand assets
Senex Investments Ltd (TC4312)
Terrace Hill (Berkeley) Ltd (TC4282)
Bowerswood House Retirement Home Ltd (TC4299)
HMRC have taken legal steps to clampdown on plant and machinery sale-and-leaseback transactions designed to avoid tax.
The Revenue said it recently became aware of leasebacks that purported to create substantial capital allowances on assets that previously entitled the owner to no allowances.
Legislation is set to be introduced in Finance Bill 2015, with effect from 26 February 2015, to ensure an entitlement to capital allowances cannot be created by leaseback or connected party transaction when an asset is acquired without incurring expenditure.
Does the cessation of trading affect the liability on future dividend payments?
Why a mixed partnership failed to claim the AIA
The impact of a vendor’s lack of capital allowance claim on a property conversion
Tread carefully when buying commercial property
Download the exclusive Xero
free report here.
