.png)
.png)
Issue:
4934
/
Categories:
Comment & Analysis
, AIA
, capital allowances
, furnished holiday lettings
, trading
, WDAs
, Capital allowances
The shipping forecast
Key points
- Furnished holiday let tax reliefs including capital allowances are destined to be abolished from 2025.
- Where neither the super-deduction nor full expensing are available the AIA remains available on qualifying main and special rate pool plant and machinery.
- A fixtures claim which is heavily skewed towards the special rate pool items and at only WDA rates will sometimes look poor value.
A business had acquired a property for £1.3m and we obtained a quick and full corporation tax refund of £70 000 on the fixtures value of the building before the time limit for annual investment allowance (AIA) expired.
But the exact same building and claim could have a very different tax cash flow outcome depending on the circumstances of the company and when it purchased the building. Length of the accounting period time limits new or second-hand expenditure and...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
