Lovell Consulting Commentary on November 2018 Budget: Capital Allowances Changes

By : Julie Davies November 19, 2018 Comments Off

There were some significant and surprisingly positive changes to capital allowances. Up until this Budget, Mr Hammond has been about as useful as a chocolate teapot for investment allowances. Assuming that the present Government remains in power and Finance Bill 2019 is enacted there will be some positive outcomes for capital investment in the UK.

The […]

Little Book of Big Capital Allowances Savings

By : Julie Davies September 24, 2015 Comments Off

Click here to read Lovell Consulting’s Little Book of Big Capital Allowances Savings Tips

Little Book of Savings

To discuss any capital allowances queries contact us on 020 7329 1300

Real Estate Investment Trusts: Get The REIT Advice on Capital Allowances

By : Julie Davies September 23, 2015 Comments Off

Capital allowances may be claimed in a variety of trades and entities. Often overlooked due to its tax status, there is a genuine interaction between REITS and capital allowances as explained below.

Background

Real Estate Investment Trusts (REITS) are tax efficient property investment companies. They were first introduced to the UK in 2007.

The main benefit of having […]

Wind Turbines and Capital Allowances

By : Julie Davies September 16, 2015 Comments Off

Introduction

Wind farms can be a lucrative source of income, but in order to make the most of this income it is important to protect the tax position by claiming capital allowances. A high percentage of wind turbine construction expenditure qualifies for capital allowances. However, due to their specialist construction, the full extent of the allowances […]

Contaminated Land – The Big Clean Up for Capital Allowances

By : Julie Davies September 15, 2015 Comments Off

Derelict or contaminated land can pose a dilemma to developers and investors alike as the cost of regenerating it can turn a financially viable project into an unviable one.

However, savings are available from the Government keen to encourage the redevelopment of contaminated sites.

This tax relief applies to residential and commercial properties.

Tax breaks are available to […]

Capital Allowances & Furnished Holiday Lets

By : Julie Davies September 1, 2015 Comments Off

Capital Allowances Hidden Gems within Hotels

By : Julie Davies August 26, 2015 Comments Off

Introduction

Hotels are abundant in qualifying items of plant and machinery (P&M) and repairs. In the vast majority of cases, the total allowances are not fully identified by either the in house accountants or external advisors.

Why does this happen?

Hotels, in comparison to other commercial properties, have specific trade related plant that are not easily identifiable to […]

Helpful Tips for Claiming Capital Allowances in Tax Returns

By : Julie Davies August 25, 2015 Comments Off

HMRC have recently updated their “Capital Allowances for Plant and Machinery Toolkit”. This provides a helpful guide for completing the capital allowances section in self assessment and company tax returns.

Capital Allowances toolkit

To discuss any capital allowances queries contact us on 020 7329 1300

Why Do I Need A Capital Allowances Specialist?

By : Julie Davies August 14, 2015 Comments Off

Clients generally assume that their accountant or tax advisor deals with capital allowances. In fact some clients will ask their accountant if they claim allowances and they will respond that they claim all available allowances. However, as explained below, this can be misleading and they are doing their clients a disservice by not referring them to […]

Land Remediation Relief & Capital Allowances Q&A

By : Julie Davies August 5, 2015 Comments Off

What is contaminated land?

For the purposes of this tax relief it is where the land contains substances such as asbestos, Japanese Knotweed or sulphate resistant concrete which are causing harm or could possible cause harm, pollute or possibly pollute controlled waters.

Is there a definition of contaminated land costs?

There is a general definition which is that […]