Capital allowances: Taxpayer win in the FTT

In the matter of The Mersey Docks and Harbour Company Ltd v HMRC [2024] UKFTT 1163 (TC) the FTT has allowed the taxpayer’s appeal in respect of its claim for capital allowances for expenditure incurred on a ‘Quay Wall’. The Quay Wall was constructed to support and enable the operation of Ship-to-Shore Cranes used for loading and unloading of large cargo vessels in the Port of Liverpool. In allowing the appeal the FTT held that the expenditure on the Quay Wall was on a distinct asset, on the provision of plant or machinery, and fell within Item 1 of List C in CAA 2001 s.23.

Jonathan Peacock KC and Edward Hellier acted for the Taxpayer.