Corporation tax: what an accountant needs to know - capital allowances

Summary

This course will help guide you through the incredibly valuable but complex process, that is Capital Allowances.

Overview:

Ever since Capital Allowances were introduced, they have been an extremely valuable way for businesses to reduce their tax liabilities.

The rules are subject to regular changes by Government as they seek to provide incentives for different parts of the economy to grow. Keeping up with these changes is key to a successful tax strategy.

There are two key tasks, the first is to identify expenditure which qualifies for Capital Allowances, the second is to make the right computations and claims. This course will help guide you through this valuable but complex process.

Learning outcomes:

On completion of this course, participants will have a greater understanding of:

  • The distinction between plant and buildings
  • The operation of the annual investment allowance
  • The rules governing the first year allowance
  • Writing down allowance rates, and how they have changed
  • How higher allowances can be claimed on short life assets
  • The rules on capital allowances on cars

Authored by: Michael Steed & Marion Hodgkiss

Michael Steed is Head of Tax for BPP Professional Development. He is a Chartered Tax Adviser and is a past-President of the ATT. He is the current co-chair of the ATT’s Tax Technical Steering Group.

Marion qualified with PwC as a chartered accountant. She moved into tax on qualification and then on to student training for a number of years. She passed her CIOT exams with distinction, and was awarded the Spofforth Medal for paper 1.

Following this she helped develop courses for CIOT exams and was a member of the exam sub-committe for the CIOT. She was also a member of ICAEW Council for 14 years with a particular interest in the Tax Faculty.

Other courses

If you would like to cover this topic in greater detail, we run the following courses face to face.

Corporation tax refresher and update

Essential Tax Update for the Accountant in Practice or Employment

CPD Points: 1

CPD Duration (hours): 1

Access: 12 months from purchase date

Price (excludes VAT): £35.00