HMRC’s Consultation on Proposed Changes to the HMRC legislation. We look at the HMRC consultation process which concludes on 31st August 2011 to predict what changes may come into effect for capital allowances claims at the start of the next tax year. The main issue On 31 May 2011 HM Revenue & Customs (‘HMRC’) issued [...]
The government will start consultation in May 2011 on whether to continue to allow capital allowances claims on purchases of commercial property regardless of the purchase date. As the legislation stands at the moment a claim may be made for qualifying “plant and machinery” within the property with no time limitations applied as to the [...]
