The last few years have seen important changes to the capital allowances rules. This Special Report is your up-to-date guide to the changes and how they fit into the broader regime. It explains legitimate ways to maximise tax deductions and flags pitfalls you should avoid. It could be the best investment you'll make this year.

It’s been thoroughly revised to include the new structures and allowances, as well as the effect of the cut in the main rate of writing down allowances.

If you don’t take the right steps, your business could lose out on capital allowances permanently. Our PDF Special Report explains, in plain language, how to make the most of the available allowances.

In detail

With this Special Report, you'll quickly get to grips with:

• The basic computations you need to make
• The structures and buildings allowance
• How full expensing works
• The new 40% first year allowance
• Allocating expenditure between special rate and main rate pools
• Applying the annual investment allowance
• Capital allowances for employees
• Intellectual property for sole traders and partnerships
• The use of short-life assets
• Integral features
• Capital allowances for property rental businesses

If you don't take the right steps now, your business could lose out permanently. Our Special Report explains, in simple language, what you need to do to make the most of the available allowances.

• 1. Introduction
• 1.1. What are capital allowances?
• 1.2. How is relief given?
• 1.3. What major changes have been made to CAs in recent years?
• 1.4. What were the super and SR deductions?
• 1.5. What are “full expensing” deductions?
• 1.6. Electric vehicle charging points
• 2. Entitlement to capital allowances
• 2.1. Who can claim CAs?
• 2.2. Can employees claim CAs?
• 2.3. What other conditions apply to employees?
• 2.4. How are CAs calculated for employees?
• 3. Pooling and writing down allowances
• 3.1. What are capital allowance pools?
• 3.2. What are the rates for WDAs?
• 3.3. What goes into the special rate pool?
• 3.4. What are single asset pools?
• 3.5. What happens if all the assets in a pool are sold or transferred?
• 3.6. What if I transfer my business to a company?
• 3.7. How are CAs given if I use the cash basis of accounting?
• 3.8. What is the £1,000 write-off allowance?
• 4. Short-life assets
• 4.1. What are short-life assets (SLA)?
• 4.2. How long does a SLA apply?
• 4.3. What about small items of equipment?
• 5. Annual investment allowance
• 5.1. What’s the AIA?
• 5.2. How does the AIA work?
• 5.3. What types of asset can the AIA apply to?
• 5.4. What are the special rules where two or more businesses are related?
• 5.5. What about unincorporated businesses under common control?
• 5.6. What if our accounting period isn’t for twelve months?
• 5.7. What happens to the AIA we’ve claimed if we sell the asset?
• 6. First-year and other enhanced capital allowances
• 6.1. What are FYAs?
• 6.2. What vehicles and vehicle-related equipment qualifies for FYAs?
• 6.3. When does gas refuelling equipment qualify for FYAs?
• 6.4. When does electric car charging equipment qualify for FYAs?
• 6.5. What is the new 40% FYA?
• 6.6. What special rules apply to R&D capital expenditure?
• 6.7. What special CAs apply to Enterprise Zones, Freeports and Investment Zones?
• 7. Cars
• 7.1. What are the special rules for cars?
• 7.2. How are CO2 emission levels measured for tax purposes?
• 7.3. What counts as a car for CAs purposes?
• 7.4. Can directors and employees claim CAs for cars or vans?
• 8. Capital allowances for buildings and other structures
• 8.1. Business premises renovation allowance
• 8.2. The structures and buildings allowance (SBA)
• 9. Equipment attached to or used in buildings
• 9.1. Can CAs be claimed for expenditure on fixtures to buildings?
• 9.2. What are integral features?
• 9.3. What can be claimed for replacing or repairing an integral feature?
• 9.4. Can CAs for integral features be claimed retrospectively?
• 9.5. What’s the position if I buy a commercial property which contains plant and machinery?
• 9.6. What is a s.198/199 election?
• 9.7. How are integral features dealt with when s.198/199 elections are made?
• 9.8. What about empty properties?
• 9.9. Does the SBA cover integral features?
• 10. Property rental businesses
• 10.1. Can CAs be claimed by property rental businesses?
• 10.2. What are the restrictions on CAs for landlords of residential accommodation?
• 10.3. Are there different rules where rent-a-room relief applies?
• 10.4. Can CAs be claimed for equipment in HMOs?
• 10.5. Can CAs be claimed for equipment in buildings consisting of more than one dwelling?
• 11. Intellectual property
• 11.1. Can I claim CAs for the cost of intellectual property?
• 11.2. How are CAs for know-how calculated?
• 11.3. Can I claim CAs for the cost of patents?
• 11.4. Are CAs allowed for other intellectual property for unincorporated businesses?
• 11.5. Can I claim CAs for the cost of buying or creating software used in my business?
• 11.6. Can I claim CAs for the cost of creating a website?
• 12. Anti-avoidance rules
• 12.1. Are there special rules that limit CAs?
• 12.2. When do these anti-avoidance rules apply?
• 13. Appendices
• 13.1. Appendix 1 - HMRC approved mileage rates