This course will enable you to:
- Understand the basics of capital allowances
- Define what is and isn’t capital expenditure
- Recognise who can claim capital allowances and how they are claimed
- Identify different capital ‘pools’ and the rules for each
- Advise on capital allowances for cars, structures and buildings
- Avoid some common pitfalls
Capital allowances reduce a business’s taxable profits and enable it to retain more of its profits. With depreciation not allowable for tax purposes, a thorough understanding of capital allowances is critical in managing the tax liability for any business with capital expenditure.
This course explains how to identify capital expenditure and whether it is allowable, and explains capital allowances and the practical issues you could encounter. You'll discover different capital allowances 'pools' and rules for each, as well as the reliefs available for cars and structures and buildings.
Introduction to capital allowances
- Claiming capital allowances
- Finding the tax legislation
- Explaining capital expenditure
- Plant and machinery
- Other types of capital allowances
Pooling and fast-track allowances
- Explaining pooling
- Understanding first year allowances
- The AIA
- General exclusions
- Available reliefs for cars
- Dealing with structures and buildings
- The key features of SBAs
- Qualifying activities
- Claiming SBAs
- Other types of expenditure
- The date of expenditure
- Time limits for capital allowances
- AIAs and WDAs
- Getting the timing right
ACCA partner with accountingcpd.net to provide high quality CPD for members. As an ACCA member, you are required to complete at least 40 relevant units of CPD each year, where one unit is equal to one hour. 21 units must be verifiable; the other 19 can be non-verifiable.
Your accountingcpd.net course counts as verifiable CPD, if you can answer "yes" to these questions:
- Was the learning activity relevant to your career?
- Can you explain how you will apply the learning in the workplace?
You select courses that meet these criteria, and as you complete each course you get a CPD certificate so you can provide ACCA with the evidence that you undertook the learning activity.