Capital Allowance: When a setting is Plant – Moveable Partitions
Generally, an asset that is part of the setting is not a plant. But, there have been a few instances in which assets that are a part of the setting but are not a part of the business premises have been determined to be a plant because they were also an apparatus that was used […]
Capital Allowance: Is Lamps a Plant?
J Lyons and Co. LtdvAttorney-General Supreme Court1994 A company tried to treat lighting in a tea shop as a plant. As mentioned in Yarmouth v France– the beginnings of a definition above, the earliest definition of the plant came from a case that had nothing to do with tax. Given the significance that the term […]
Capital Allowance: Is Book a Plant?
Daphne v Shaw (HMIT) 11 TC 256 England & Wales 9 November 1926 The Appellant, a solicitor, claimed a deduction under Rules 6 and 7 of the Rules applicable to Cases I and II of Schedule D regarding wear and tear and obsolescence of books forming part of his law library. Held that the books […]
Capital Allowance: Premises Test, Functional Test & Business Use Test
Wimpy International Ltd v Warland (H.M. Inspector of Taxes) Associated Restaurants Ltd v Warland (H.M. Inspector of Taxes) Court of Appeal (Civil Division) England & Wales / 07 December 1988 These were appeals by the two taxpayer companies against the decision of Hoffmann J. ([1987] BTC 591) that the Special Commissioners were entitled to hold […]
Capital Allowance: Whether a Ship used as a Restaurant constitutes Plant
High Court of Justice (Chancery Division) Court of Appeal Benson (H.M. Inspector of Taxes) v Yard Arm ClubLtd 15 January 1979 England & Wales In 1962 the Company bought a secondhand ship and converted her into a floating restaurant. The converted hulk had no means of propulsion or steering. She was moored with an attendant […]
Capital Allowance: Whether expenditure on constructing a Car Valeting Bay is Plant
It was held by the First-Tier Tax Tribunal that the valeting bay was not plant. The building does not perform a function, it was a place of work which does not amount to plant. Rogate Services Limited v HMRC Introduction 1. This is an appeal by Rogate Services Limited (“the Taxpayer”) against the disallowance of […]
Capital Allowance: Whether Car Wash enclosures constitute Plant
Attwood (HM Inspector of Taxes) and Anduff Car Wash Ltd This was an appeal by the Revenue from a decision of the special commissioners that the entire site on which stood a building incorporating car washing machinery and control equipment qualified as “plant” for the purposes of capital allowances. Anduff’s trade was operating some 78 […]
Back to Basic: The Capital Allowance in Malaysia, Is Horse a Plant?
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 motor vehicles, computers, tables, and chairs is straightforward, fully maximising a Capital Allowances claim on renovation and property purchases is fraught with complexities. Even the most basic question doesn’t […]
FAQ on 2% WHT deducted from payment by payer companies to agents, dealers, or distributors
Section 107D was incorporated into the Income Tax Act of 1967 (ITA) on January 1, 2022. It says that companies that make payments to agents, dealers, or distributors due to sales, transactions, or schemes must withhold tax at 2% of the gross amount. This applies to payments made to agents, dealers, or distributors who are individuals and […]
Income Tax (Exemption)(No. 6) 2020 (Amendment) Order 2022: Approved New Food Production Project
Provided that applications were received by the Ministry of Agriculture and Agro-Based Industry by the end of 2015, the following food production projects are eligible for specific tax incentives: The following are some of the incentives: The government, realising that it needs to continue to support the development and growth of the agro-food industry, proposed […]
