Gateley

This Practice Note explains the rules on company reconstructions with respect to capital allowances for plant and machinery. It covers the transfer of a trade between UK companies without a change in ownership, the transfer of a trade between connected persons, a change of trade, and successions without a sale (including incorporations). This Practice Note was produced in partnership with Steven Bone.

This Practice Note is about the rules on capital allowances for taxpayers who are connected with one another. It sets out the meaning of connected, the capital allowances treatment of transfers of assets between connected persons, and the special rules affecting integral features, structures and buildings. This Practice Note was produced in partnership with Steven Bone.

This Practice Note describes the anti-avoidance provisions within the capital allowances rules. It covers transactions with a main purpose of obtaining a tax advantage, and capital allowance buying. Capital allowance buying involves selling or buying a company with the intention of using its unclaimed allowances. This Practice Note was produced in partnership with Steven Bone.

This Practice Note contains guidance on the practicalities of capital allowance related pre-contract enquiries on a property sale or acquisition. It provides assistance in understanding replies to pre-contract enquiries (CPSE.1) on this topic, and in knowing when to insist on further information. This Practice Note was produced in partnership with Steven Bone and Martin Wilson.

This Practice Note is about the interaction between the tax rules on capital allowances and those on capital gains tax and corporation tax on chargeable gains (CGT), VAT, stamp duty land tax (SDLT), land and buildings transaction tax (LBTT) and land transaction tax (LTT). It covers CGT computations, capital losses, the wasting asset rules, the impact of VAT and stamp taxes on the calculation of allowances, and the VAT capital goods scheme. This Practice Note was produced in partnership with Steven Bone.

This Practice Note explains what cash balance schemes are, their benefit structures, how risk is shared between the sponsor and members and the statutory regime applicable to such schemes, both before and after 24 July 2014 (being the date on which the statutory definition of ‘money purchase benefits’ was amended).

This Practice Note is about the availability of capital allowances for plant and machinery where a person makes a contribution to another person’s expenditure. It covers the restrictions on allowances for recipients of contributions, and the allowances that are available to contributors. This Practice Note was produced in partnership with Steven Bone.

This Practice Note provides an overview of the contractual considerations which arise when leasing or hiring equipment, being a contract for the simple hire or bailment of goods, in a business to business transaction. This Practice Note does not consider hire purchase or consumer hire.

This Practice Note explains how capital allowances for plant and machinery are calculated for corporation tax purposes. It covers qualifying expenditure, pooling and writing-down allowances, the mechanics of claiming, or disclaiming, allowances, and the uses to which allowances may be put. It describes balancing charges and allowances, disposal events and disposal values, and time limits for making and amending claims. This Practice Note was produced in partnership with Steven Bone.

This Practice Note explains how capital allowances for plant and machinery are calculated for income tax purposes. It covers qualifying expenditure, pooling and writing-down allowances, the mechanics of claiming, or disclaiming, allowances, and the uses to which allowances may be put. It looks at the reasons a taxpayer might not want to claim allowances, and the restrictions on using trading losses generated by capital allowances. This Practice Note was produced in partnership with Steven Bone and Martin Wilson.

This Practice Note looks at the statutory definitions of hybrid schemes (also known as mixed benefit schemes), how benefits are provided in a hybrid pension scheme, how legislation applies to the two main categories of hybrid scheme (one with separate DB and money purchase sections, the other providing underpin or top-up benefits), how automatic enrolment applies to hybrid schemes, the effect of the Pension Schemes Act 2015 on hybrid schemes, and the Pensions Regulator’s guidance to trustees of hybrid pension schemes.

This Practice Note describes the meanings of the terms plant and machinery for the purposes of the tax rules on capital allowances. It covers the case law on the meaning of plant and the statutory limitations to the definition relating to buildings and structures, and the special rules on integral features. This Practice Note was produced in partnership with Martin Wilson.

This Practice Note explains the capital allowances rules for plant or machinery that is classified as a fixture, such as lifts, central heating equipment and boilers. It covers the meaning of a fixture, the special rules on who can claim allowances on fixtures, and how allowances on fixtures are calculated. This Practice Note was produced in partnership with Steven Bone and Martin Wilson.

This Precedent clause is for an agreement for lease where a landlord is making a capital contribution to the tenant (for instance a contribution towards the tenant’s fitting-out works) and wishes to claim capital allowances in respect of some or all of the contribution. This Precedent was produced in partnership with Steven Bone.

These precedent capital allowances clauses are for inclusion in a property sale contract. The clauses can be adapted where the transaction is the grant of a lease for a premium, or an asset purchase agreement in which real estate is being transferred as part of a wider sale of a business. This Precedent was produced in partnership with Steven Bone and Martin Wilson.

This is a Precedent conditional fee agreement for use between a solicitor and an insolvency office-holder client on or after 6 April 2016, ie after the relevant provisions of the Legal Aid, Sentencing and Punishment of Offenders 2012 came into effect ending the so-called ‘insolvency exemption’ which had allowed insolvency office-holders to continue to recover success fees and after-the-event insurance premiums from opponents in insolvency litigation. This Precedent is produced in partnership with Kathryn Hacking of Gateley Legal.

This Precedent drop ship agreement is for a transaction involving a supplier (in this case the manufacturer of the goods) and its customer (in this case, a retail merchant) . It assumes that the merchant will separately be trading directly with consumers, or the end-users of the goods. This Precedent has been drafted with a bias in favour of the customer. Drop shipping can arise at different points in the supply chain eg manufacturer to distributor, distributor to merchant or manufacturer to merchant. A drop ship agreement is an agreement for the supply of goods on terms which allow a merchant to operate free from stock holding constraints by leaving the physical stock holding and supply arrangements to be managed by a third party, in this case the supplier or manufacturer of the goods.

This Precedent drop ship agreement is for a transaction involving a supplier (in this case the manufacturer of the goods) and its customer (in this case, a retail merchant). It assumes that the merchant will separately be trading directly with consumers, or the end-users of the goods. This Precedent has been drafted with a bias in favour of the supplier. Drop shipping can arise at different points in the supply chain eg manufacturer to distributor, distributor to merchant or manufacturer to merchant. A drop ship agreement is an agreement for the supply of goods on terms which allow a merchant to operate free from stock holding constraints by leaving the physical stock holding and supply arrangements to be managed by a third party, in this case the supplier or manufacturer of the goods.

This Precedent is an equipment hire agreement, also known as an equipment lease or an equipment rental agreement, under which one party (the supplier) hires defined equipment to the other (the customer). The Precedent has been structured as an operating lease (as opposed to a finance lease) and is drafted in favour of the customer. This Precedent is suitable only for business to business (B2B) hire agreements. Whilst this hire agreement includes an option on the part of the customer to purchase the hired equipment at the end of the hire period, it is not a hire purchase agreement.

This Precedent is an equipment hire agreement, also known as an equipment lease or an equipment rental agreement, under which one party (the supplier) hires defined equipment to another (the customer). The Precedent has been structured as an operating lease (as opposed to a finance lease) and is drafted in favour of the supplier. This Precedent is suitable only for business to business (B2B) hire agreements. While the hire agreement includes an option on the part of the customer to purchase the hired equipment at the end of the hire period, it is not a hire purchase agreement.