INDEPENDENT CAPITAL ALLOWANCES VALUERS

Blog image

Resolving Capital Allowances Figures where Buyer and Seller are unable to agree quantum of Allowances on a Nursing Home

By : March 15, 2019 Comments Off on Resolving Capital Allowances Figures where Buyer and Seller are unable to agree quantum of Allowances on a Nursing Home

GLAIS HOUSE CARE LIMITED V THE COMISSIONER FOR HER MAJESTY’S REVENUE & CUSTOMS [2019]

UKFTT 0059 (TC)

Summary

HMRC has lost an interesting capital allowances case where it tried to limit the Taxpayer’s purchase price attributable to second-hand fixed plant and machinery to £1. The tax payer had claimed allowances of £318,792 based […]

Read more

Capital Allowances and Demountable Partitions; To Move or Not to Move?

By : March 21, 2017 Comments Off on Capital Allowances and Demountable Partitions; To Move or Not to Move?

It is no secret that claiming Capital Allowances on plant and machinery expenditure can be a complicated business. While claiming allowances on business equipment such as computers and chairs is straightforward, fully maximising a Capital Allowances claim on fit outs and property purchases is fraught with complexities.

Even seemingly the most basic question doesn’t have a […]

Read more

Employees Claiming Capital Allowances: Caravan Case Demonstrates Hurdles!

By : March 8, 2017 Comments Off on Employees Claiming Capital Allowances: Caravan Case Demonstrates Hurdles!

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 […]

Read more

Capital Allowances within Offices

By : September 14, 2016 Comments Off on Capital Allowances within Offices

Both owners and occupiers of office buildings can claim substantial capital allowances but this opportunity is often missed. This can be due to confusion over the recent April 2014 capital allowances rules changes or because non-specialist solicitors, accountants and tax advisors do not recognise the full potential of available allowances. Frequently, construction cost information can […]

Read more

Commercial Property Standard Enquiries: Capital Allowances

By : June 30, 2016 Comments Off on Commercial Property Standard Enquiries: Capital Allowances

Following on from the April 2014 changes to the Capital Allowances fixtures legislation, there is now more of a requirement for careful planning and technical due diligence to ensure Capital Allowances are not lost to Buyers of commercial property.

Buyers are increasingly reliant on the answers they receive to the Commercial Property Standard Enquiries (CPSE) sent […]

Read more

Capital Allowances within Private Member Clubs

By : 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 […]

Read more

Capital Allowances Hidden Gems within Hotels

By : August 26, 2015 Comments Off on Capital Allowances Hidden Gems within Hotels

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 […]

Read more