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Questions and Answers from Recent Webinar

Webinar Questions and Answers – 10 September 2026Download

Perenco UK Ltd v HMRC – FTT Tax Case

Perenco UK Ltd v HMRC – FTT Tax Case

Background

Perenco UK Ltd (PUK) acquires and operates mature hydrocarbon assets. In 2011, PUK acquired BP Exploration Operating Company Ltd (BPEOC) and ARCO British Limited’s (ARCO) ~67.5% interest in the Wytch Farm and Wareham oilfields. A sale and purchase agreement (BASPA) was signed on 16 […]

Recent Land Remediation Relief Consultation Responses

Following government consultation on Land Remediation Relief in Spring 2025, Lovell Consulting understands the responses are now published. Background and key findings are listed below. Link to full publication: https://assets.publishing.service.gov.uk/media/6a2826256d178a6fb7e31fa0/SoR_TU_Land_Remediation_Relief.pdf

What is Land Remediation Relief (LRR)?

Form of revenue expense aimed for companies to incentive the regeneration of brownfield sites.

Usually, revenue expense allows companies to deduct […]

Common Mistakes of Lost Capital Allowances | Lovell Consulting

Common Mistakes That Lead to Lost Capital Allowances – and How to Avoid Them

For many commercial property owners, capital allowances represent one of the most overlooked forms of tax relief available in the UK. Despite this, substantial amounts of qualifying expenditure are still going unclaimed every year; often because key opportunities are missed during property […]

Capital Allowances Due Diligence Checklist | Lovell Consulting

The Capital Allowances Due Diligence Checklist for Commercial Property Transactions
Contents

Introduction

What are capital allowances and why do they matter?

Why capital allowances due diligence matters

The Capital Allowances Checklist

1. Review ownership and claim history

2. Identify qualifying expenditure

3. Check pooling requirements

4. Review Section 198 elections

5. Assess unclaimed allowances

6. Analyse transaction documents

7. Consider VAT interaction

8. Engage specialist advice early

9. Align […]

Capital Allowances vs Tax Depreciation: What’s the Difference?

If you own or invest in commercial property in the UK, you’ve likely encountered the terms capital allowances vs tax depreciation when discussing tax relief on property assets. They are often mentioned together, yet they are not the same thing. In fact, understanding the difference between them can significantly affect how much tax your […]