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Talk 1: An Introduction to Capital Allowances
 
04:51
In this first talk, Ray Chidell – capital allowances expert and author of various books on the subject – introduces the series, gives an outline of the topics to be covered, and explains the first principles of claiming capital allowances. Ray looks at the meaning of capital expenditure, with reference to statutory provisions and the extensive case law, and with a particular focus on the case of British Insulated and Helsby Cables, and especially the concept of the “enduring benefit”. There is also a general overview of the Capital Allowances Act 2001. The two capital allowances books mentioned in the video are available at: http://www.claritaxbooks.com, and are discounted when bought together. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 10833 Claritax Books
Talk 2: Introduction to Plant & Machinery Allowances
 
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In this talk, capital allowances expert Ray Chidell provides an introduction to the topic of plant and machinery allowances. Ray’s main focus is on section 11 of the Capital Allowances Act 2001. He begins by looking at the meaning and significance of the concept of “qualifying activity”, explaining why the distinctions between the different activities can be important in practice. The talk also provides an introduction to the topic of “qualifying expenditure”, again by reference to section 11. Ray looks at the “general rule” and then at the various ways in which the general rule is modified. Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 3504 Claritax Books
Talk 32: Cars (continued)
 
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In this second video looking at the special capital allowances rules for cars, specialist Ray Chidell looks at the implications where a particular vehicle is classified as a car rather than as a van or as something else. Ray considers annual investment allowances and (briefly) first-year allowances, before focusing on the criteria for allocating cars to either the main rate or the special rate pool. Ray looks at the delayed tax relief where cars are sold and comments on the HMRC view that a restriction may still be applied for very expensive cars. Ray ends with a reminder that capital allowances are not given for cars owned by employees, even when used for work purposes. To receive a weekly notification as each talk is made available, email [email protected] The 2015-16 editions of Ray’s two capital allowances books are now available from: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 392 Claritax Books
Talk 24: Budget special – Annual Investment Allowances
 
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In this video, capital allowances specialist Ray Chidell looks at capital allowances issues arising in the recent summer Budget. Ray’s main focus is on the forthcoming reduction in the level of the annual investment allowance. He considers the transitional rules that apply for chargeable periods spanning 1 January 2016 and illustrates those rules with a worked example. Ray also picks up another change, announced at the time of the Budget, that will affect residential landlords. To receive a weekly notification as each talk is made available, email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 504 Claritax Books
Talk 23: Professional and overhead costs
 
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In this video, capital allowances specialist Ray Chidell looks at the treatment of professional and preliminary costs in relation to a construction project. Ray comments on the concepts of overheads and preliminary costs, and turns to the three linked Wetherspoon decisions to look at how such costs should be treated when formulating a capital allowances claim. He shows how the approach by HMRC was categorically rejected by the Tribunals and how the HMRC guidance has since been modified to reflect the outcome. To receive a weekly notification as each talk is made available, email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 452 Claritax Books
Talk 27: Short-life asset elections
 
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In this video, capital allowances specialist Ray Chidell looks at the short-life asset election for plant and machinery. Ray explains the circumstances in which an election may be beneficial, and illustrates the way in which an election can significantly accelerate the speed at which allowances are given. He then links the election to the coming reduction in the level of AIAs that can be claimed, before concluding his talk with a consideration of some of the restrictions and pitfalls that may apply, and with a brief description of the mechanics of making the election. To receive a weekly notification as each talk is made available, email [email protected] The 2015-16 editions of Ray’s two capital allowances books can now be ordered at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 114 Claritax Books
Talk 28: Enhanced capital allowances
 
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In this video, capital allowances specialist Ray Chidell considers so-called enhanced capital allowances (ECAs), a name used for first-year allowances that are available for qualifying expenditure on energy-saving and “environmentally beneficial” plant and machinery. Ray shows the types of expenditure for which these allowances are available, and outlines the key conditions for claiming relief. He also covers the related relief that allows loss-making companies to claim a non-taxable cash payment by surrendering the losses that relate to ECA expenditure. To receive a weekly notification as each talk is made available, email [email protected] The 2015-16 editions of Ray’s two capital allowances books can now be ordered at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 261 Claritax Books
Talk 30: Special rate expenditure
 
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In this video, capital allowances specialist Ray Chidell takes a more detailed look at the concept of special rate expenditure. Ray lists the categories that constitute special rate expenditure, from integral features and some cars to solar panels, thermal insulation costs, and certain other types of expenditure. He then looks at the mechanics of restricting the rate of tax relief for such assets, as well as at the interaction with AIAs and with the special rules for small pools. Ray also touches on the anti-avoidance provisions that prevent businesses from avoiding the special rate restrictions. To receive a weekly notification as each talk is made available, email [email protected] The 2015-16 editions of Ray’s two capital allowances books are now available from: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 145 Claritax Books
Talk 29: Enhanced capital allowances (continued)
 
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In this video, capital allowances specialist Ray Chidell continues to look at enhanced capital allowances (ECAs), showing the rather complex statutory rules that underpin the allowances. Using the example of water-saving technology, and starting with the Capital Allowances Act, Ray explains how a statutory instrument issued back in 2003 leads to the “Criteria List” and then to the relevant “Product List”. Ray comments on the respective roles of the accountant or tax adviser on the one hand, and the building professionals on the other. To receive a weekly notification as each talk is made available, email [email protected] The 2015-16 editions of Ray’s two capital allowances books can now be ordered at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 137 Claritax Books
Talk 19: Role of the specialist surveyor
 
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In this video, capital allowances specialist Ray Chidell looks at the role of the capital allowances surveyor. After commenting on the variable levels of expertise among the niche capital allowances firms, Ray looks at how the surveyor’s skills are needed in a range of particular circumstances. He provides an overview of the approach to be taken in relation both to newly built property and to the purchase of used buildings, demonstrating how the skills of the surveyor should complement those of the accountant or other tax adviser. To receive a weekly notification as each talk is made available, email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 145 Claritax Books
Talk 20: The definition of plant - first principles
 
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In this video, capital allowances specialist Ray Chidell starts to consider the case law definition of plant. Ray argues that in any circumstances where the meaning of plant is being considered, case law shows that the term has been given a very wide definition by the courts for well over a century. The definition may be very wide, but it is also remarkably difficult to pin down, and Ray goes on to show how the courts have repeatedly acknowledged that many items may in practice fall on either side of the line. To receive a weekly notification as each talk is made available, email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 138 Claritax Books
Talk 35: Research and development allowances
 
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In this final video of the series, capital allowances specialist Ray Chidell provides an overview of the rules for research and development allowances. Ray explains how the concept of research and development is defined, and shows that it can be broad enough to cover expenditure on assets such as cars. He looks at the statutory definition of qualifying expenditure, and the required link between the trader and the research that is being undertaken. Finally, Ray shows how allowances are given and how they may be recaptured in some circumstances. The 2015-16 editions of Ray’s two capital allowances books are now available from: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 220 Claritax Books
Talk 8: Introduction to Fixtures
 
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In this talk, Ray Chidell starts to consider the capital allowances rules for fixtures. He sets the scene by considering the problem of "ownership" in connection with fixtures in property. He looks at how this came to a head in the Costain Property Investments case, which led to the enactment of the rules now found at Chapter 14 of Part 2 of CAA 2001. He also brings out and illustrates the meaning of "fixture" for capital allowances purposes, showing how it differs from the way the term is used in business accounts. To receive a weekly notification when each new talk is uploaded, simply email [email protected] Ray’s two popular books, Capital Allowances and the A-Z of Plant & Machinery, are available at http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 443 Claritax Books
Talk 21: The definition of plant (continued)
 
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In this video, capital allowances specialist Ray Chidell continues his consideration of the case law meaning of plant. Ray finds that a judicial analogy with the botanical meaning of plants provides a useful starting point, and illustrates the distinction between plant on the one hand and premises or setting on the other. However, Ray also shows that premises and plant are not always mutually exclusive, and he turns to the 2010 Andrew case, concerning a gazebo in a pub garden, for useful recent commentary on how the apparent contradictions may be resolved. To receive a weekly notification as each talk is made available, email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 419 Claritax Books
Talk 4: Structures (CAA 2001, s. 22)
 
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In this talk, capital allowances specialist Ray Chidell focuses on section 22 of the Capital Allowances Act 2001: "Structures". Ray looks at the meaning of this concept, picking up case law definitions from more than a hundred years ago. He also notes the statutory requirement for structures to be “fixed” but discusses how the meaning of “fixed” is uncertain in this context. He looks at HMRC guidance but questions how that guidance is sometimes applied – for example in relation to the treatment of fences. This is the second of several talks dealing with Pt. 2, Ch. 3 of CAA 2001 ("Qualifying expenditure"). In the next two talks, Ray will look at the relieving provisions of s. 23. To receive a weekly notification as each talk is made available, simply email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 720 Claritax Books
Talk 7: Integral features
 
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In this talk, Ray Chidell focuses on integral features. Ray reminds viewers of the definition and principal effects of the rules for integral features. He comments on the HMRC definition of electrical systems, on the overlapping but different meaning of special rate expenditure, and on the restrictions that can prevent a claim for expenditure on integral features. Ray also talks about AIAs and short-life asset elections, in each case in the context of talking about integral features. To receive a weekly notification as each new talk is made available, simply email [email protected] Ray’s two popular books on the topic - Capital Allowances and the A-Z of Plant & Machinery - are available at: http://www.claritaxbooks.com This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 387 Claritax Books
Talk 6: CAA 2001, s. 23 (cont.)
 
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In this talk, Ray Chidell continues his examination of section 23 of the Capital Allowances Act 2001. Section 23 overrides the restrictions for buildings and structures in certain cases, and allows a wide class of expenditure on plant & machinery to qualify for allowances. Ray's focus in this talk is again on List C, and he considers the surprisingly wide tax definition of "machinery". Ray then talks of the practical issues that arise when determining whether or not a claim can be made for the costs of land alteration, illustrating the principles with an example of road-building costs incurred by wind farms. To receive a weekly notification as each new talk is made available, simply email [email protected] Ray’s two popular books on the topic - Capital Allowances and the A-Z of Plant & Machinery - are available at: http://www.claritaxbooks.com This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 371 Claritax Books
Talk 10: Buying and selling property (introduction)
 
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In this video, capital allowances specialist Ray Chidell starts to look at capital allowances claims for fixtures when property is bought and sold. Ray introduces the key principles that apply in relation to such property transactions, namely apportionments, fixtures elections, the pooling requirement and the fixed value requirement. He explains why it is now more critical than in the past for the parties to reach an agreement on capital allowances matters before the transaction is completed. To receive a weekly notification as each talk is made available, simply email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 367 Claritax Books
Talk 11: FA 2012 changes – conditions and exceptions
 
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In this video, capital allowances specialist Ray Chidell starts to look in greater depth at the pooling and fixed value requirements, introduced by FA 2012. Ray looks at the conditions that have to be met before these requirements can be imposed. He shows that there are various circumstances in which the relevant conditions are not met, and illustrates this with three examples of where the requirements are not imposed. To receive a weekly notification as each talk is made available, email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 229 Claritax Books
Talk 12: FA 2012 changes (cont.)
 
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In this video, capital allowances specialist Ray Chidell continues his examination of the pooling and fixed value requirements, introduced by FA 2012. Ray explores the differing perspectives of seller and buyer, considers the timing of a last-minute claim in the context of the property sale, and illustrates how failure to sign a valid election can be disastrous for the seller, as well as denying tax relief to the buyer. To receive a weekly notification as each talk is made available, email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 180 Claritax Books
Talk 25: AIAs – pitfalls and planning points
 
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In this video, capital allowances specialist Ray Chidell looks at some practical issues relating to annual investment allowances. Ray begins by illustrating how the timing of expenditure over the coming months will have a major impact on the level of allowances that a business can claim. He also takes a look at the potentially confusing rules that govern AIAs where there is pre-trading expenditure. And he comments on two recent case decisions in which businesses were caught out by some of the legal niceties relating to AIAs. To receive a weekly notification as each talk is made available, email [email protected] The 2015-16 editions of Ray’s two capital allowances books can now be ordered at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 173 Claritax Books
Talk 31: When is a car not a car?
 
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In this first of two videos looking at the special capital allowances rules for cars, specialist Ray Chidell looks at how the definition of “car” can for capital allowances purposes be more complex than it would first appear. Ray focuses on the construction of particular vehicles and draws out the distinctions between cars and goods vehicles. He also looks at the second statutory test, which considers whether a particular vehicle is of a type commonly used privately and whether or not it is suitable for such use. Ray touches specifically on the treatment of taxis, driving school vehicles, motorhomes, double cab pick-ups and various other vehicles. To receive a weekly notification as each talk is made available, email [email protected] The 2015-16 editions of Ray’s two capital allowances books are now available from: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 261 Claritax Books
Talk 15: Apportionments
 
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In this video, capital allowances specialist Ray Chidell starts to consider capital allowances apportionments. Ray begins by examining the statutory requirements for a just and reasonable apportionment, as imposed by section 562 of the Capital Allowances Act, and he looks at some of the circumstances in which an apportionment will in practice still be needed. He then starts to consider how the position of the current owner can to an extent be divorced from the treatment in the tax computations of the previous owner. To receive a weekly notification as each talk is made available, email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 190 Claritax Books
Talk 13: Avoiding errors with fixtures elections
 
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In this video, capital allowances specialist Ray Chidell provides advice on avoiding errors that could invalidate a fixtures election. Ray considers the statutory requirements for a valid election, stresses once more the necessary distinction between fixtures and moveable plant, and comments on the segregation of integral features and other fixtures. He looks at the practicalities of identifying the fixtures that are covered by the election. To receive a weekly notification as each new talk is made available, email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 199 Claritax Books
Talk 14: Fixtures elections (continued)
 
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In this video, capital allowances specialist Ray Chidell continues to focus on the practical use of the capital allowances fixtures election. Ray brings out a number of technical points that need to be watched. He explores particular cases in which an election cannot be made, and other circumstances in which various restrictions may apply. He reminds viewers that a valid election is irrevocable and he looks at the special time limits that apply for making an election. To receive a weekly notification as each talk is made available, email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 155 Claritax Books
Talk 17: Worked examples
 
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specialist Ray Chidell brings together some of the principles discussed in recent talks, by way of a series of worked examples. Ray looks at circumstances where a full claim has or has not been made by the vendor. In a more complex example, he looks at a case where there is inadequate paperwork from the time the current vendor acquired the property. To receive a weekly notification as each talk is made available, email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 141 Claritax Books
Talk 18: A complex worked example
 
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In this video, capital allowances specialist Ray Chidell uses a more complex worked example to illustrate some practical difficulties with elections and apportionments where there have been several previous owners. Through this example, Ray looks at the practicalities of making a claim where there are previous owners who can no longer be contacted, where the relevant paperwork no longer exists, and where there is the possibility that an election was made many years previously. To receive a weekly notification as each talk is made available, email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 90 Claritax Books
Talk 22: The definition of plant - challenging HMRC
 
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In this video, capital allowances specialist Ray Chidell brings together the statutory and case law considerations regarding the meaning of plant. Ray looks at the issue of pictures on the accountant’s office wall, and takes issue with HMRC’s line of reasoning. He examines the logic used by HMRC to disallow the cost of such pictures and argues that that logic is incorrect. Ray then asserts that the flawed approach taken by HMRC has led them to the wrong conclusion. To receive a weekly notification as each talk is made available, email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 131 Claritax Books
Talk 9: Fixtures in newly built property
 
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In this talk, capital allowances specialist Ray Chidell looks at capital allowances claims for fixtures in newly built property. Ray looks at the practicalities of analysing capital expenditure, showing how a spreadsheet may be built up. He illustrates how different types of expenditure may need to be allocated or apportioned to different headings. He also looks at the treatment of preliminary and professional costs, applying the principles that were strongly endorsed in the Wetherspoon cases. In the next few talks, Ray will look at the more complex issues that arise when property is bought and sold. To receive a weekly notification as each talk is made available, simply email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 299 Claritax Books
Talk 16: Apportionments (continued)
 
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In this video, capital allowances specialist Ray Chidell continues to address the topic of apportionments. Ray looks at the operation of the apportionment formula, and illustrates how it works in practice, using an HMRC example to show how the end result may be radically different from what might be expected. Ray shows how the non-statutory formula has received recent judicial approval and he looks at the practicalities of applying the formula. To receive a weekly notification as each talk is made available, email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 114 Claritax Books
Talk 34: Business premises renovation allowances
 
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In this first of two videos looking at allowances for expenditure other than on plant and machinery, capital allowances specialist Ray Chidell provides an overview of the rules for business premises renovation allowances. Ray considers the rules as they have applied since certain restrictions were introduced in April 2014. He looks at the conditions that have to be met, illustrating these with a simple example, and examines the restrictions for fixtures in property. He touches on a 2015 First-tier Tribunal ruling in relation to the definition of qualifying buildings, and concludes by explaining how allowances are given and when they may be clawed back. The 2015-16 editions of Ray’s two capital allowances books are now available from: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 107 Claritax Books
Talk 33: Contributions
 
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In this video, capital allowances specialist Ray Chidell considers the treatment of contributions to capital expenditure. Ray first looks at the position of the contributor, examining the conditions that have to be met if the contributor is to be able to claim capital allowances. He then turns to the tax consequences for the recipient, explaining the circumstances in which the allowances claimed need to be restricted. Ray finishes by looking at how the rules may operate in the context of a landlord contributing to a tenant’s fitting-out costs, and touches on the interaction with the taxation of reverse premiums. The 2015-16 editions of Ray’s two capital allowances books are now available from: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 97 Claritax Books
Talk 5: CAA 2001, s. 23
 
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In this talk, capital allowances specialist Ray Chidell starts to consider the all-important section 23 of the Capital Allowances Act 2001. This section overrides the restrictions for buildings and structures in certain cases, and allows a wide class of expenditure on plant & machinery to qualify for allowances. Ray's main focus is on List C. He explains the general principles of how the List interacts with the restrictions of sections 21 and 22, and he considers the treatment of cold rooms and of partition walls to illustrate those principles. To receive a weekly notification as each talk is made available, simply email [email protected] Ray’s two popular books on the topic - Capital Allowances and the A-Z of Plant & Machinery - are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 523 Claritax Books
Talk 26: More pitfalls and planning points
 
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In this video, capital allowances specialist Ray Chidell looks at some further practicalities and planning points relating to plant and machinery allowances. Ray considers the timing of claims, issues a warning about refurbishments, and explains how a one-year delay in making a claim can have a dramatic effect on cash flow. He looks at a case where private use of an asset by a sole trader can actually improve the rate at which tax relief is given, and ends with a reminder of why it can be beneficial to restrict allowances in some circumstances. To receive a weekly notification as each talk is made available, email [email protected] The 2015-16 editions of Ray’s two capital allowances books can now be ordered at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 81 Claritax Books
Talk 3: Buildings (CAA 2001, s. 21)
 
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In this talk, capital allowances specialist Ray Chidell focuses on section 21 of the Capital Allowances Act 2001: "Buildings". He explains the interaction of statutory and case law principles in this area. Ray notes the wide scope of the exclusion for buildings, but also starts to illustrate how the effects of the statutory restrictions are modified by other provisions. This is the first of several talks dealing with Pt. 2, Ch. 3 of CAA 2001 ("Qualifying expenditure"). Over the next few weeks Ray will examine other aspects of this area of the legislation. To receive a weekly notification as each talk is made available, simply email [email protected] Ray’s two capital allowances books are available at: http://www.claritaxbooks.com. This talk was sponsored by Six Forward Capital Allowances. © Claritax Books, 2015
Views: 1162 Claritax Books