Treating concrete panels as 'plant' for tax purposes

[ploughman1963]

I understood that concrete panels were deemed to be plant and machinery for tax purposes? Can anyone direct me towards something in writing to confirm this? Thanks

 

[teslacoils]

Capital Allowances and Demountable Partitions; To Move or Not to Move? - Lovell Consulting

It is no secret that claiming Capital Allowances on plant and machinery expenditure can be a complicated business. While claiming allowances on business equipment such as computers and chairs is straightforward, fully maximising a Capital Allowances claim on fit outs and property purchases is...

lovellconsulting.com

Does this help?

 

[devonboy]

Cant show you any evidence, but we only had this conversation with our accountant friday, and it came up that this is true.

 

[Johnnyboxer]

Moveable
Not fixed
Acid test
No charge

 

[yin ewe]

I understood that concrete panels were deemed to be plant and machinery for tax purposes? Can anyone direct me towards something in writing to confirm this? Thanks

I think it is something to do with the fact that they are movable/removable.

 

[beefandsleep]

So if I built a slurry tank with panels then covered with slats they would be 100% tax deductible?

 

[thorpe]

So if I built a slurry tank with panels then covered with slats they would be 100% tax deductible?

no that tank is not movable.

 

[devonboy]

we built a large slatted cow shed ten years ago and the only bit we didnt claim plant on was the shed frame itself.

 

[Wesley]

no that tank is not movable.

What about the slats?

 

[beefandsleep]

no that tank is not movable.

The slats and panels could be, obviously very unlikely to happen but possible.

 

[thorpe]

What about the slats?

you cant argue with that , just dont let the cows in if you move them!

 

[Wombat]

In the end it comes down to what you are happy justifying at an inspection as it will be the person who signed the form not the accountant.

I didn;t claim panels for a shed build as they are concreted into the floor so i didn;t think i could argue they were moveable.

 

[devonboy]

and it was poured, not panels. Apparently, its classed as a working machine.

 

[Spud]

As a rule, my man says internal panel walls could realistically be reconfigured, so plant. External walls much less so

 

[Spud]

and it was poured, not panels. Apparently, its classed as a working machine.

Poured is definitely not plant

 

[beefandsleep]

Now then, if I was tearing up some old broken concrete to build this tank, which will have external feed passages. Does the concrete laid outside the tank qualify as farm repairs as it is replacing existing knackered concrete.

 

[thorpe]

Now then, if I was tearing up some old broken concrete to build this tank, which will have external feed passages. Does the concrete laid outside the tank qualify as farm repairs as it is replacing existing knackered concrete.

should do.

 

[Tarw Coch]

In the end it comes down to what you are happy justifying at an inspection as it will be the person who signed the form not the accountant.

I didn;t claim panels for a shed build as they are concreted into the floor so i didn;t think i could argue they were moveable.

My accountant is of the opinion that if panels are used for a purpose that doesn’t require their removal as part of their use such as a shed wall, then they are not claimable.
Plenty of folk claiming them though, the test will be what HMRC have to say at an investigation

 

[devonboy]

Ah well thats a few hundred thousand i"m in debt to the government then

 

[Tarw Coch]

So if I built a slurry tank with panels then covered with slats they would be 100% tax deductible?

I’m pretty sure slurry storage and silage pits can legitimately be claimed under plant and machinery however they are constructed