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Two important decisions in the capital allowances field handed down by FTT

Pupilage 11 New Square

“The FTT has handed down two important decisions in the capital allowances field, addressing both the common law “plant” question and the application of the statutory override rules in ss.21-23 Capital Allowances Act 2001.

The cases relate to complex assets in the energy and nuclear industries. Urenco Chemplants Ltd & Anor v Revenue & Customs [2019] UKFTT 522 (TC) relates to assets in a nuclear reprocessing plant and nuclear safety features, while Cheshire Cavity Storage 1 Ltd and EDF Energy (Gas Storage Hole House) Ltd v Revenue & Customs[2019] UKFTT 498 (TC) relates to gas storage cavities.

Jonathan Peacock QC and Michael Ripley appeared in Urenco and Jonathan Peacock QC in Cheshire Cavity.”

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tom.rook@11newsquare.com
020 7242 4017


© 11 New Square / The Chambers of John Gardiner KC.
All Rights Reserved. Web Design by Fhoke

All barristers at 11 New Square provide legal services in accordance with Standard Contractual Terms for the Supply of Legal Services by Barristers to Authorised Persons 2012 as published on the Bar Council’s website (adapted as necessary where instructions are received from non-Authorised persons).
Barristers in England and Wales are regulated by the Bar Standards Board, 289-293 High Holborn, London, WC1V 7HZ.