Fundamental Changes to Interest Deductions & Impact for Capital Allowances

By : Julie Davies April 20, 2016 Comments Off

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 […]

Capital Allowances within Childcare Facilities & Schools

By : Julie Davies March 29, 2016 Comments Off

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 […]

Better Call Lovell for Capital Allowances

By : Julie Davies February 17, 2016 Comments Off

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 […]

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

By : Julie Davies January 20, 2016 Comments Off

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 […]

Can an Accountant Claim the Capital Allowances without Specialist Support ?

By : Julie Davies January 12, 2016 Comments Off

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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Enterprise Zones & Capital Allowances

By : Julie Davies December 9, 2015 Comments Off on Enterprise Zones & Capital Allowances

Enterprise Zones were reintroduced in 2012 to encourage economic growth and investment.

Businesses basing themselves on Enterprise Zones can access a number of benefits:

Up to 100% business rate discount worth up to £275,000 per business over a 5 year period

Simplified local authority planning

Government support to ensure that superfast broadband is rolled out throughout the zone, and, […]

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Capital Allowances & Landlord Contributions to Tenant Fitting Out Works

By : Julie Davies December 2, 2015 Comments Off on Capital Allowances & Landlord Contributions to Tenant Fitting Out Works

It is sometimes essential to offer incentives to attract tenants to take space in a vacant property. Typically these will be in the form of a general cash payment, contribution to tenant fit out or a rent-free period.

Of these the contribution route can be the most tax efficient for the landlord as there is a […]

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10 Key Qualities To Look For In A Capital Allowances Advisor

By : Julie Davies November 25, 2015 Comments Off on 10 Key Qualities To Look For In A Capital Allowances Advisor

It is becoming more and more likely that you or your clients will be approached directly by capital allowances advisors to review capital expenditure when properties are purchased or when construction expenditure is incurred. This can be beneficial but is a more reassuring experience if you appoint the right firm.

Here are 10 key qualities to […]

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Capital Allowances within Private Member Clubs

By : Julie Davies November 11, 2015 Comments Off on Capital Allowances within Private Member Clubs

There is substantial worth of tax allowances within private member clubs. Significant savings can be achieved by considering capital allowances at an early stage. In-house accountants and tax advisors will be able to identify the apparent qualifying items of plant and machinery (P&M), such as furniture, kitchen equipment etc. When fitting out or refurbishing a […]

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Effective Dealing with HMRC for Capital Allowances

By : Julie Davies November 3, 2015 Comments Off on Effective Dealing with HMRC for Capital Allowances

There are 4 main areas of concern for HMRC with any Capital Allowances (CA) claim; entitlement, credibility, quantum and eligibility.

Entitlement requires careful consideration of the tax history and appropriate valuation basis. Also considerations of the nature of trade and specific expenditure.

Credibility issues can be reduced by submitting a fully detailed, cross referenced, well […]

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