Tag: hmrc
Capital Allowances for Commercial Property Owners
A Guide for Commercial Property Owners Introduction Capital allowances are one of the most overlooked tax relief opportunities available to commercial property owners in the UK. If you own a commercial property, you could be entitled to claim thousands of pounds in tax relief – but many businesses fail to take full advantage of this.…
Clarification by HMRC on capital allowances rules for partnerships
HMRC has recently updated its guidelines to clarify that a partnership containing a corporate member is eligible to assert capital allowances typically reserved for corporations. This encompasses allowances such as the super deduction and full expensing. The computation of a partnership’s profits is contingent upon the tax regulations applicable to its members: HMRC has revised…
