Insights
Our experts provide their insights on the latest industry developments and share tips on accountancy and business matters.
15 April 2025
New capital allowances ruling could mean more tax relief for large infrastructure projectsA recent court appeal has broadened the range of activities that may qualify for capital allowances on large-scale projects. This is particularly relevant for the Infrastructure & Renewables sector, but could apply to projects in a variety of other sectors too. Michael Murray, Construction and Property Incentives Partner explains further.
Karen Brown
Tax Assistant Manager
12 December 2024
VAT on developing buildingsA key consideration of development budgets is the VAT incurred on the costs involved. This can take the form of a cashflow cost for “End-Users” of the buildings, i.e., paying VAT on the charges raised by the contractors and then recovering this via VAT returns. Or the VAT could represent an absolute cost if it is not recoverable in the hands of the developer. It is crucial, therefore, that VAT reliefs which apply to certain elements of construction works are applied, where available. Here we summarise the two key VAT reliefs, and how they apply.
Michael Jamieson
Tax Senior Manager
04 July 2024
Additional Dwelling Supplement (ADS) – Changes effective from 1 April 2024Following an extensive consultation period by Revenue Scotland, new legislation was introduced on 1 April 2024 to alter and, in most instances, improve the Land and Buildings Transaction Tax (“LBTT”) rules in respect of the Additional Dwelling Supplement (ADS).
Jonathan Corsie
Tax Assistant Manager
30 May 2024
VAT and Commercial PropertySome of the highest value transactions that businesses incur are often related to the acquisition or disposal of commercial property.
Laura Ritchie
Tax Senior Manager
13 March 2024
Return deadline approaching for Annual Tax on Enveloped DwellingsRelevant entities that hold residential properties valued in excess of £500,000 at 1 April 2022, will need to take action. 2024/25 ATED returns are due to be submitted to HMRC by 30 April 2024.
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