Businesses should also be aware that any interest on hire purchase items is classed as a revenue (trading) expense and not part of the capital expenditure and cannot be claimed back with full expensing. Why was full expensing introduced?
Maintenance and running repairs can be claimed as allowable expenses. So, for example, replacing a shower, bath, washbasin or toilets is allowable, because they’re classed as repairs, as long as you replace like for like. Improving a property, for example, by adding an extension or doing ...
For capital gains purposes a share reorganisation is not treated as a disposal of the taxpayer’s existing shares or an acquisition of any new shares and new shares issued are treated as though they were acquired at the same time as the existing shares. This may raise questions of share iden...