OTS – Report on Proposed Capital Allowances Simplification

By : Julie Davies June 22, 2018 Comments Off

The long awaited report by the Office of Tax Simplification (OTS) into the proposed simplification of capital allowances was published on the 15th June 2018. It extends to 88 pages but concludes that whilst an accounts based depreciation system would be attractive, the benefits gained would be completely outweighed by the disruption suffered by businesses […]

Capital Allowances on Commercial Property | Lovell Consulting

By : Julie Davies December 19, 2017 Comments Off

What are Capital Allowances?

Capital allowances (CAs) are a form of UK tax relief for businesses that incur qualifying capital expenditure on their commercial properties for use as part of their trade. Qualifying capital expenditure includes but is not limited to plant, machinery and business vehicles, in which the costs of assets may be eligible to […]

OTS Review on Capital Allowances and Accounts Depreciation

By : Julie Davies October 12, 2017 Comments Off

John Lovell is interviewed by Lexis Nexis: 4 October 2017

First published by Lexis Nexis

John Lovell, Managing Director at capital allowances specialists Lovell Consulting, outlines the recent review by the Office of Tax Simplification (OTS) regarding replacing capital allowances with accounts depreciation. He explains that while there are […]

20 Years of Capital Allowances

By : Julie Davies September 13, 2017 Comments Off

Lovell Consulting are celebrating providing 20 years of capital allowances advise.

Pension Funds and Capital Allowances Interactions

By : Julie Davies May 18, 2017 Comments Off

There is a commonly held view that as UK pension funds are tax exempt they are unable to benefit from the tax savings arising from capital allowances. For this reason capital allowances have generally been ignored by pension entities. There is also some confusion with property lawyers and advisors in this area and this article […]

Lexis Nexis Webinar – Capital Allowances in 2017

By : Julie Davies May 9, 2017 Comments Off

Capital allowances are a significant element of any commercial property transaction, and as such there is much about the subject that is of relevance in general practice. In this webinar, John Lovell and Kirsty Palacci will discuss many of these issues, providing lawyers and accountants without a specialism in real estate everything they might need […]

Capital Allowances and Demountable Partitions | Lovell Consulting

By : Julie Davies March 21, 2017 Comments Off

Capital Allowances and Demountable Partitions: To Move or Not to Move
What Are Capital Allowances?

Capital allowances are a form of tax relief that allow businesses and property owners to deduct the cost of qualifying capital expenditure from their taxable profits.
In commercial property, they matter because a significant part of a purchase, refurbishment or fit out can […]

Employees Claiming Capital Allowances: Caravan Case Demonstrates Hurdles!

By : Julie Davies March 8, 2017 Comments Off

While the majority of Capital Allowances claims are made for businesses and trades, it is also possible for employees to claim Capital Allowances on plant and machinery. A recent UK First Tier Tribunal (FTT) case highlights the complexities of such claims and the hurdles that have to be cleared in order for claims to be […]

Capital Allowances, Corporation Tax Loss Relief & Interest Deductions – Act Now

By : Julie Davies March 1, 2017 Comments Off

SERIOUS IMPLICATIONS FOR PRIVATE EQUITY BUSINESSES AND PROPERTY COMPANIES

Capital allowances are available to companies when they incur expenditure on buying, building or refurbishing commercial property and the tax benefits can be significant. It is a non-contentious way of reducing a tax bill but in our experience is frequently overlooked by companies – either due to […]

Corporation Tax Loss Relief & Interest Deductions: Capital Allowances

By : Julie Davies February 22, 2017 Comments Off

Capital allowances specialists Lovell Consulting are finding relatively few property companies and private equity businesses are alert to these fundamental changes which will apply from 1 April 2017, not least because the 90 pages of complex legislation was only published on 26 January 2017. John Lovell, MD of Lovell Consulting, advises clients need to be […]

Technical Resources