- Location
- East yorks
Its the one thing i think is wrong, you can spend capital allowance on a german tractor but cannot spend it on a british build shed.
Completely agree, I think you'd struggle to find anyone who wouldn't, but that's not how it is. Why I don't know, I'd certainly be interested to hear HMRC,s logic/justification.Its the one thing i think is wrong, you can spend capital allowance on a german tractor but cannot spend it on a british build shed.
Completely agree, I think you'd struggle to find anyone who wouldn't, but that's not how it is. Why I don't know, I'd certainly be interested to hear HMRC,s logic/justification.
IIRC when HMRC removed tax relief on new buildings approx 15 years ago the NFU did argue against it ...........but may well not have used the argument of why is it ok on foreign machinery but not British sheds as that might just have left us worse off still. Although I'm sure under EU rules they wouldn't have been able to discriminate against EU built machinery.
Bottom line, they were probably just looking to increase Tax income some how/anyhow and logic had little to do with it, they did it because they could.
Completely agree, I think you'd struggle to find anyone who wouldn't, but that's not how it is. Why I don't know, I'd certainly be interested to hear HMRC,s logic/justification.
IIRC when HMRC removed tax relief on new buildings approx 15 years ago the NFU did argue against it ...........but may well not have used the argument of why is it ok on foreign machinery but not British sheds as that might just have left us worse off still. Although I'm sure under EU rules they wouldn't have been able to discriminate against EU built machinery.
Bottom line, they were probably just looking to increase Tax income some how/anyhow and logic had little to do with it, they did it because they could.
Not the tax man though.If you took 3 sheds down you've made a capital dis-investment which should offset the investment in the 'new' shed.
Sounds like a repair to me.
But shed builders are all busy so it's not going to be changed.Its the one thing i think is wrong, you can spend capital allowance on a german tractor but cannot spend it on a british build shed.