I am no computer wizard, but my solution is as follows:
Onedrive used for all data so that I have access anywhere I can securely access the internet. My regular daily laptop has two Samsung T7 portable SSD's plugged in whilst I am working in the office. I use FBackup which is set to backup onto one of those drives automatically every night at 21:00 and shut down after completion of testing. For the other drive I use FBackup manually to force a second backup (which does not auto shut down) every other day or whenever I am about to leave the office for an extended period. Fireproof safe for one of the SSD's when I leave and separate secure store for the other. Also, if you do use Onedrive, check the integrity of your main PC/laptop hard drive regularly. If it has or develops bad sectors which Onedrive cannot always reliably access, Onedrive can auto-delete files from that drive, so important to ensure Onedrive settings auto notify you when files are deleted, so they can be restored in time.
If the purchased fixtures belonged to the taxpayer at some point during the period in which the FHL activity commenced then I vote yes. HMRC has the power to abate the cost of assets acquired which are obsolescent in an apportionment, but as you say the items were fully functional, it would be difficult for them to successfully use that argument.
Take a look at the HMRC manuals. There is often guidance which might help. A good local accountant ought to be able to point you in the right direction without unbearable cost, particularly if you consult before you do something which will be more costly to correct. As director you are obliged to comply with relevant laws and regulations, so you probably ought to take early advice and set off in the right direction.
Be mindful that at that level of expenditure it is likely that the qualifying expenditure might have been covered by Annual Investment Allowance, so you might not see the balance in the pools.
The answer is probably "it depends". Not enough information to be able to determine whether the refinance will constitute a disposal.
Bear in mind that the 130% will only be available if the expenditure is incurred in a period ending on or before 31 March 2023. If the period ends after 31 March 2023 the "relevant percentage" will reduce the availability of the enhanced relief. If the ARD is 31 December, then the enhanced relief will drop from the maximum 30% to circa 7.5%.
Not sure that I fully understand your question. SBA's are claimable, subject to meeting the various conditions, where construction began on or after 29 October 2018. SBA's are therefore not available for property purchases made before 2018.
Depending upon the type of property and the nature of the seller, Plant & Machinery allowances may be available, but you would need to provide more clarity in your question for meaningful replies.
You are not wrong. What the Buyer really needs to ask your client to do (presumably at the Buyer’s expense) is to first pool it’s qualifying expenditure and then enter a s198 election. If your client does not pool, it cannot enter a valid s198 election. Whether your client is entitled to pool, and upon what expenditure it can do so will depend upon many factors, all of which need to be considered. As the Buyer is expecting to benefit from the allowances, the Buyer ought to pay for the specialist’s involvement.
As Wanderer notes, CAA 2001 s25 will almost certainly allow you to treat the works to the concrete floors as incidental to the MOT equipment which should all qualify. Such items will be main pool so worth checking dates to see if the Super Deduction is available.
My answers
I am no computer wizard, but my solution is as follows:
Onedrive used for all data so that I have access anywhere I can securely access the internet. My regular daily laptop has two Samsung T7 portable SSD's plugged in whilst I am working in the office. I use FBackup which is set to backup onto one of those drives automatically every night at 21:00 and shut down after completion of testing. For the other drive I use FBackup manually to force a second backup (which does not auto shut down) every other day or whenever I am about to leave the office for an extended period. Fireproof safe for one of the SSD's when I leave and separate secure store for the other. Also, if you do use Onedrive, check the integrity of your main PC/laptop hard drive regularly. If it has or develops bad sectors which Onedrive cannot always reliably access, Onedrive can auto-delete files from that drive, so important to ensure Onedrive settings auto notify you when files are deleted, so they can be restored in time.
If the purchased fixtures belonged to the taxpayer at some point during the period in which the FHL activity commenced then I vote yes. HMRC has the power to abate the cost of assets acquired which are obsolescent in an apportionment, but as you say the items were fully functional, it would be difficult for them to successfully use that argument.
Take a look at the HMRC manuals. There is often guidance which might help. A good local accountant ought to be able to point you in the right direction without unbearable cost, particularly if you consult before you do something which will be more costly to correct. As director you are obliged to comply with relevant laws and regulations, so you probably ought to take early advice and set off in the right direction.
https://www.gov.uk/hmrc-internal-manuals/property-income-manual/pim1075
Take a look at :
https://www.gov.uk/hmrc-internal-manuals/business-income-manual/bim46915
May offer some comfort once you can satisfy yourself whether Law Shipping or Odeon Cinemas applies
Be mindful that at that level of expenditure it is likely that the qualifying expenditure might have been covered by Annual Investment Allowance, so you might not see the balance in the pools.
The answer is probably "it depends". Not enough information to be able to determine whether the refinance will constitute a disposal.
Bear in mind that the 130% will only be available if the expenditure is incurred in a period ending on or before 31 March 2023. If the period ends after 31 March 2023 the "relevant percentage" will reduce the availability of the enhanced relief. If the ARD is 31 December, then the enhanced relief will drop from the maximum 30% to circa 7.5%.
Also take a look at CAA 2001 s35 in relation to Plant & Machinery.
Not sure that I fully understand your question. SBA's are claimable, subject to meeting the various conditions, where construction began on or after 29 October 2018. SBA's are therefore not available for property purchases made before 2018.
Depending upon the type of property and the nature of the seller, Plant & Machinery allowances may be available, but you would need to provide more clarity in your question for meaningful replies.
You are not wrong. What the Buyer really needs to ask your client to do (presumably at the Buyer’s expense) is to first pool it’s qualifying expenditure and then enter a s198 election. If your client does not pool, it cannot enter a valid s198 election. Whether your client is entitled to pool, and upon what expenditure it can do so will depend upon many factors, all of which need to be considered. As the Buyer is expecting to benefit from the allowances, the Buyer ought to pay for the specialist’s involvement.
As Wanderer notes, CAA 2001 s25 will almost certainly allow you to treat the works to the concrete floors as incidental to the MOT equipment which should all qualify. Such items will be main pool so worth checking dates to see if the Super Deduction is available.