IBC Accountants

I.B.C Accountants based in Rochester in Kent are a busy firm of Accountants established in 1978 by Alan F Keeves who practised sole from 1978 then in 1996 he set up I.B.C Accountants who have become known for our expertise in assisting our Clients achieve their ambitions whether their businesses are small, medium or large both in the UK, Europe & South America.

I.B.C Accountants provide a wide range of services from accountancy to forensic accounting and can assist you with a full range of advice in all aspects of business.   I.B.C Accountants has the benefit of 39 years experience.


Please help support Becky Keeves and the wonderful MacMillan Nurses.

https://www.justgiving.com/fundraising/sara-cummins1

Latest News

Student tax scam warning

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Décor and plant and machinery allowances
05/08/2021

Capital Allowances are the deductions which allow businesses to secure tax relief for certain capital expenditure. Capital Allowances are available to sole traders, self-employed persons or partnerships, as well as companies and organisations liable to Corporation Tax.

The Capital Allowance legislation does not specifically define plant and machinery (P&M). However, there is legislation that makes it clear that most buildings, parts of buildings and structures are not P&M. 

An interesting case dating back to 1982 helps to confirm this point of view. The decided case concerns a company that spent money on décor items such as light fittings and wiring as well as decorative items such as wall plaques, tapestries, murals, prints and sculptures. It was accepted that electric wiring was part of the fabric of the building but not the other decorative assets. 

HMRC’s internal guidance states that inspectors should only accept that items of decor are plant if the taxpayer can show that:

  • the trade involves the creation of atmosphere/ambience and in effect the sale of that ambience to its customers; and
  • the items on which plant or machinery allowances are claimed were specially chosen to create the atmosphere that the taxpayer is trying to sell.

For example, a painting on an accountant’s office wall that is owned by the accountant is not plant because selling atmosphere is not part of an accountant’s business.


Accountancy

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Accountancy

If you need advice in either a start up or in expanding your business then I.B.C can assist you.

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Taxation

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Taxation

If you need advice in either a start up or in expanding your business I.B.C can assist you.

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VAT

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VAT

We assist with you with all of your VAT needs and offer advice on all aspects of VAT

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Forensic Accounting

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Forensic Accounting

These services can considerably strengthen your case and cut your litigation costs.

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Contact Us

Suite 1, Unit C3, Knights Park Industrial Estate
Knight Road
Rochester
Kent
ME2 2LS
Email: intbusinesscentreibc@gmail.com
Phone: 01634 564290

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