INDEPENDENT CAPITAL ALLOWANCES SPECIALISTS

Artful Plant: When Capital Allowances may be Claimed on a Painting

By : June 8, 2016 Comments Off on Artful Plant: When Capital Allowances may be Claimed on a Painting

In 1776 Sir Joshua Reynolds painted a portrait later purchased by the 5th Earl of Carlisle.  The painting was taken for display at the family seat at Castle Howard in Yorkshire where for the next 200 years it remained until being sold for over £9m in 2001 on behalf of the late Lord Howard.

The recent […]

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New Capital Allowances Team Appointment – Glenn Ramos

By : May 10, 2016 Comments Off on New Capital Allowances Team Appointment – Glenn Ramos

We are pleased to announce the appointment of Glenn Ramos, who has joined as Consultant.

Glenn recently joined Lovell Consulting, having spent the last 7 years with HMRC/Valuation Office as an internal capital allowances specialist. He holds a degree in Civil Engineering from the University of Santo Tomas, Philippines and a Diploma in Surveying from the […]

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Fundamental Changes to Interest Deductions & Impact for Capital Allowances

By : April 20, 2016 Comments Off on Fundamental Changes to Interest Deductions & Impact for Capital Allowances

An extra £10bn capital allowances will need to be identified each year to mitigate the restrictions on tax relief for bank interest and carried forwards tax losses.  Few companies, particularly in the property sector are aware of this fundamental change to UK taxation.

In the current season of Panamania with the attention on tax havens, avoidance […]

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Capital Allowances within Childcare Facilities & Schools

By : March 29, 2016 Comments Off on Capital Allowances within Childcare Facilities & Schools

Nurseries have substantial imbedded plant and machinery (P&M) items and repairs. However the less obvious items often get overlooked by accountants, surveyors and tax advisors.

Why does this happen?

There are many obvious items of plant such as loose furniture and fittings which accountants can easily identify and segregate to allowances. However there are additional imbedded trade related items […]

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John Lovell Comments: 2016 Budget – Impact on Capital Allowances: Commercial Property

By : March 17, 2016 Comments Off on John Lovell Comments: 2016 Budget – Impact on Capital Allowances: Commercial Property

The 2016 Budget has offered mixed news for commercial property owners.

The positives are lower capital gains tax to a 20% rate which may encourage some owners to sell. However the increase of SDLT to 5% is a negative and significantly reduces the attraction of buying property assets. The trend to lower corporation tax rates of 17% by 2020 […]

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Capital Allowances Team Announcements

By : March 9, 2016 Comments Off on Capital Allowances Team Announcements

We are pleased to announce the following promotions within the Lovell Consulting team:

Abby Teh has been promoted to Director.

Kirsty Palacci and Michael Edwards have both advanced to become Associates.

To speak with Abby, Kirsty, or Mike, or any of the team please call 020 7329 1300.

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Better Call Lovell for Capital Allowances

By : February 17, 2016 Comments Off on Better Call Lovell for Capital Allowances

When to call in a capital allowances specialist?

Many construction professionals have some knowledge of capital allowances. This can be helpful as it flags the benefits of tax savings to clients. Though as, Alexander Pope mentioned, ‘A little learning is a dangerous thing’.

This article flags why allowances are helpful to tax paying clients. It sets out […]

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Lovell Consulting Capital Allowances 2015 Art Prize

By : February 10, 2016 Comments Off on Lovell Consulting Capital Allowances 2015 Art Prize

Power To The People – 2015

Rich Saenz has won the 2015 Lovell Consulting art prize.  He is a freelance illustrator based in London, and has exhibited most recently at Atom Gallery, Arch 402 Gallery, Hackney Wicked, and Camden Create, amongst others.

He takes inspiration for his visual aesthetic from a range of subjects such as human thought, […]

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Plant in Garden Centres: Claiming the Right Kind for Capital Allowances

By : January 20, 2016 Comments Off on Plant in Garden Centres: Claiming the Right Kind for Capital Allowances

Garden centres can benefit from additional tax relief on purchase and construction expenditure.

There are around 2,500 garden centres in the UK. Most are full scale “leisure destinations” with some evolving from local nurseries to others being newly constructed. Not only do they provide a range of plants and garden furnishings, but additional facilities such as […]

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Can an Accountant Claim the Capital Allowances without Specialist Support ?

By : January 12, 2016 Comments Off on Can an Accountant Claim the Capital Allowances without Specialist Support ?

Some accountants are bravely proclaiming they do not require specialist valuation support when clients buy or construct buildings. This article considers why this can be a dangerous economy which may result in PI claims.

A             Property purchases – “My lawyer and accountant claim the allowances – why do […]

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