Is a grain silo plant?

Since capital allowances were invented accountants and businesses have struggled to determine whether certain items should be classified as “plant”, and hence qualify for higher capital allowances, or whether the expenditure was on a building or...

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Entrepreneurs’ relief conditions fudged

In the 2018 Budget the Chancellor announced that two additional conditions would apply with immediate effect to the definition of a “personal company”, to ensure that only shareholders with true material stake in the company can claim...

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Our comprehensive Autumn Budget 2018 review

Philip Hammond presented his second Autumn Budget “for hard working families”, heralding the coming to an end of austerity. A range of spending measures were announced, together with a number of tax changes, which we have set out in our budget...

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Autumn Budget 2018 – Diverted Profits Tax amendments

The Diverted Profits Tax was introduced in Finance act 2015 and its purpose was to prevent the avoidance of tax by corporates in situations where a UK company uses arrangements lacking economic substance to divert profits to offshore jurisdictions...

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Autumn Budget 2018 – Amendments to the UK corporation tax rules surrounding hybrid instruments and permanent establishments.

Currently there are some financial instruments that, due to the differing tax treatment cross border a tax advantage, may be obtained. To align the current UK rules with the European rules two amendments are required. One of the amendments relates...

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