The new three year expensing facility for plant and machinery which became effective from the 1^st  April 2023 offers significant opportunities for those companies which take advantage of its provisions . Costing an estimated £9 billion per year this is one of the most generous incentives for companies to invest since the 1980s. Now that the corporation rate has risen to 25% the value of capital allowances has grown as well as the opportunities.

To be eligible for Full Expensing, companies must have made the qualifying plant and machinery investment between the specified dates and be subject to UK Corporation Tax. Qualifying plant and machinery includes tangible assets such as machines, equipment, and vehicles, but excludes buildings and land.

Businesses can deduct the full cost of the qualifying plant and machinery investment from their taxable profits in the year of purchase, instead of claiming a deduction over several years. This provides a cash flow advantage and may reduce the overall tax liability for the business.

This recorded course looks at the opportunities and pitfalls in this area and will be of interest to lawyers, accountants and tax advisors. 

Topics covered include:

- Qualifying plant and machinery: The course will cover the types of investments that qualify for Full Expensing, including tangible assets such as machines, equipment, and vehicles, but excluding buildings and land. It will also discuss the definitions of plant and machinery and how to correctly identify eligible assets.
- Claiming Full Expensing: The course will explain how to claim Full Expensing and the steps required to do so. This will include information on how to calculate the deduction and the documentation required to support the claim.
- Impact on tax liabilities: The course will cover the impact of Full Expensing on tax liabilities, including how it can reduce the overall tax liability for a business and provide a cash flow advantage.
- Anti-avoidance measures: The course will explain the anti-avoidance measures, such as the targeted anti-avoidance rule (TAAR), and how to comply with them.
- Case studies and examples: The course will include case studies and examples to help illustrate the application of Full Expensing and how it can be used to benefit different types of businesses.

Our presenter is Jeremy Mindell. Jeremy has been lecturing in taxation for over 20 years. Known on the circuit as an accomplished and entertaining speaker, Jeremy is in high demand for tax, pensions, share schemes and remuneration events. He has developed a specialism in International Corporate Tax, including the new Diverted Profits Tax, transfer pricing and the OECD BEPS project. Jeremy is one of the few individuals in the country who has both qualified as a Chartered Tax Advisor but also has a Masters from the Chartered Institute of Personnel Development. Jeremy worked for three big four firms focusing on employment taxation, expatriate tax, International tax, profit related pay, US taxation and share schemes and HMRC investigations. Following this Jeremy worked at AMP and Henderson Global Investors where he was a Director of the Pension Scheme. He is on the IFS Pro-Share advisory panel and a member of the Worshipful Company of Tax Advisors’ panel.

Price: £99 + VAT for the recording . 

The Legal Training Consultancy

The Legal Training Consultancy is a full-service training consultancy with a large portfolio of conferences, courses and trainers. Over the years we have been responsible for putting together a vast number of law, tax and management related conferences, webinars, seminars, videos and e-learning modules. Altogether we have created and developed more than 2000 events.