Publisher's Synopsis
A detailed guide to the taxation provisions relating to capital allowances including the legislation and relevant case law up to August 1st, 1994, although later material is included where significant.;Features of this edition include: comprehensive coverage of the changes to the way capital allowances are given under the new current year basis of assessment, including explanation of "periods of account" and the interaction of allowances with loss relief claims; added coverage of the corporation tax and "Pay and File" procedures for companies in relation to claiming allowances; claims under self-assessment for individuals, partnerships and companies; a full analysis of the restrictions introduced by the Finance Act 1994 on machinery and plant in buildings, and the new notification requirements; interaction with capital gains tax in the light of new restrictions on indexation allowance; and a new appendix on items which may qualify as machinery or plant.
