INDEPENDENT CAPITAL ALLOWANCES SPECIALISTS

Capital Allowances within Offices

By : September 14, 2016 Comments Off on Capital Allowances within Offices

Both owners and occupiers of office buildings can claim substantial capital allowances but this opportunity is often missed. This can be due to confusion over the recent April 2014 capital allowances rules changes or because non-specialist solicitors, accountants and tax advisors do not recognise the full potential of available allowances. Frequently, construction cost information can […]

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Capital Allowances & Data Centres

By : July 25, 2016 Comments Off on Capital Allowances & Data Centres

Substantial capital allowances are available on the construction of data centres.   Up to 90% of expenditure on new build date centres, or higher, can potentially qualify for capital allowances.   The reason for this high level of allowances is that the buildings are normally quite simple enclosures containing vast amounts of mechanical and electrical plant.

Types of […]

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Claiming Capital Allowances and / or Repairs

By : July 6, 2016 Comments Off on Claiming Capital Allowances and / or Repairs

As acknowledged in HMRC’s Capital v Revenue Expenditure Toolkit, ‘there is no single, simple test that can be applied to decide which items are capital expenditure and which are revenue’

Differentiating between capital and revenue expenditure can be complex and in the absence of any definitive direction from HMRC, consideration has to be given to legislation […]

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Commercial Property Standard Enquiries: Capital Allowances

By : June 30, 2016 Comments Off on Commercial Property Standard Enquiries: Capital Allowances

Following on from the April 2014 changes to the Capital Allowances fixtures legislation, there is now more of a requirement for careful planning and technical due diligence to ensure Capital Allowances are not lost to Buyers of commercial property.

Buyers are increasingly reliant on the answers they receive to the Commercial Property Standard Enquiries (CPSE) sent […]

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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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