May 2019

Capital expenditure is an important area for every business. There have been several changes to the capital allowances regime over recent months, ranging from the introduction of the new non-residential structures and buildings allowance, introduced by Autumn Budget 2018; to the temporary increase in the annual investment allowance.

Yet it can sometimes be difficult to access tax relief on a claim for capital allowances, especially for plant and machinery. In our main article, we outline the rules and look at a recent tax tribunal case, won by the taxpayer, showing some of the problems which can arise.

We also report on the new guidance on age discrimination, published by the arbitration and conciliation service, Acas. Age discrimination is one of the most common forms of unfair treatment in the workplace, and the guidance points out how it can occur, what to do about it, and the occasions on which it is permissible to treat workers differently because of age.

Making Tax Digital for VAT (MTDfV) means that VAT-registered businesses, with taxable turnover over the VAT registration threshold of £85,000, must keep digital records and submit VAT returns using compatible software. Taking effect for VAT return periods starting on or after 1 April 2019, MTDfV is a major change in the way that businesses interact with HMRC. In this issue, we include a one-page feature addressing some FAQs on MTDfV.

In our other articles, we cover:

• further changes to the Entrepreneurs' Relief rules
• the anticipated changes to probate fees
• auto-enrolment pension increases
• VAT on confectionary items.

We are sure you will find the newsletter an interesting read. Please contact us if you have any questions regarding any of the articles we have included in our newsletter or if you would like further information on a topic we haven't covered. Your views are always important to us and we welcome your feedback.