Ireland - Budget 2009 Highlights
Companies Act 2006 - Deadlines for Filing Accounts
Firms urged to claim rates relief as deadline looms
Company Separation: Is it an expensive exercise?
Finance Bill 2008 - Reforms to Capital Allowances
Planning Opportunities
Committee calls for VAT reform to reduce business waste
Capital Gains Tax Update
Investing In Overseas Property?
Residence and Domicile - Where Are We Now?
Planning Opportunities
The changes to the capital allowance regime provide various planning opportunities for businesses.
Maximise the hybrid rate
It may be possible to maximise the hybrid rate by changing an accounting period end. Other constraints such as a requirement for accounting dates to coincide with other group companies, may mean that this is not feasible.
Claim Allowances Now
Capital expenditure incurred on buildings should be reviewed to maximise any claims and minimise the impact of the 10% rate on integral fixtures.
Short Life Assets
Short life asset elections should be maximised to allow the claiming of a balancing allowance when an asset is disposed of within, at most five years. The value of these elections increases with the decrease in capital allowances rates generally.
Annual Investment Allowance
There are two potential areas to consider on the Annual Investment Allowance, although there will be anti avoidance rules to consider.
- Whether a business will be able to “spread” its expenditure over a year-end and so claim more than one allowance.
- The extent to which the Annual Investment Allowance can be used to take expenditure from the 10% pool in priority to the 20% pool.
For further information on Capital Allowances please contact:
Alan Thomson
Director
Tax Consultancy Services
Tel: 020 7509 9483
Email athomson@cvdfk.com
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