This document discusses the various types of capital allowances, the rates of allowances applicable for each type allowances, chargeable periods and so on.
Capital treatment for purchase of own shares
This document discusses these rules in detail, together with the conditions to be fulfilled; conditions A or B, and minimum period of ownership of shares; the substantial reduction test and the connection test for it to qualify for capital treatment.
Definition of plant and machinery
This document discusses the definitions of integral features, building, structures and land, overriding exceptions. It also covers case law definition of plant and machinery, two-year test, function test and others.
This document discusses the conditions for relief, meaning of material disposals of business assets, and definition of a trading company. It also covers the meaning of associated disposals and restrictions and lifetime limit for relief.
Informal winding up of a company
This document discusses some of the issues a company and its shareholders face when they wind up a company. It provides guidelines on tax considerations on winding up, distribution of assets, taxation of distributions to shareholders, and rules on distributions in anticipation of dissolution.
Legal and professional fees
This document discusses the treatment of capital expenditure and expenses which are wholly and exclusively incurred. This also covers the treatment of tax and accountancy fees, company administration costs, renewals of leases and so on.
Loan to participators
This document discusses the rules regarding payment of tax and making claims for repayment of tax on loans to participators. It also covers rules on excluded loans and reporting requirements.
Tax treatment of earn-outs and deferred consideration
This document discusses principles of ascertainable deferred consideration, unascertainable consideration, the Marren V Ingles principle and loss on disposal of right to receive future consideration.
Tax treatment on entertaining and gifts
This document discusses the tax treatment of business entertainment, incidental costs of entertainment, and gifts to employees and third party.