LONDON LUTON BPRA PROPERTY FUND LLP V THE COMMISSIONERS FOR HMRC
Following the decision reached by the First Tier Tribunal (FTT) that a significant amount of costs incurred by London Luton BPRA Property Fund LLP (Fund) to OVL (developer) ‘in connection with’ the conversion of a disused flight training centre into a hotel qualified for BPRA, […]
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LONDON LUTON HOTEL BPRA PROPERTY FUND LLP V THE COMMISSIONERS FOR HMRC
FIRST TIER TRIBUNAL TAX CHAMBER
This is a significant case heard by the First Tier Tribunal
(FTT) concerning a BPRA claim and the definition of qualifying expenditure ‘on
or in connection with’. HMRC have
typically considered that BPRA claims often include items of expenditure that
they deem […]
Capital allowances and contaminated land can have a significant impact on the financial viability of student accommodation projects. Lovell Consulting are actively involved in several student accommodation projects. This note sets out the key capital allowances planning points.
Site Acquisitions potential tax allowances
Where a site is purchased with existing buildings may contain plant and machinery such […]
Read moreSubstantial 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 […]
Read morePrivate Rented Sector (PRS) & Capital Allowances
Capital allowances and contaminated land can have a significant impact on the financial viability of PRS projects. Lovell Consulting are actively involved in several PRS projects. This note sets out the key capital allowances planning points.
Site Acquisitions potential tax allowances
Where a site is purchased with existing buildings may contain […]
Read moreBusiness Premises Renovation Allowance (BPRA) Case Summary: Senex Investments Ltd v Revenue & Customs [2015]
Release Date: 04 March 2015
Overview
Whether a former church is a qualifying building for the purposes of BPRA.
The FTT found that church was a qualifying building for BPRA as it had last been used as a “trade, profession or vocation” under […]
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