Capital Allowances: Demolition Costs
The costs of demolition may qualify for capital allowances in accordance with Section 26 CAA2001. No capital allowances are available for the costs relating to demolishing building structure, i.e. concrete, steelwork. However the costs relate to demolishing plant and machinery is deemed to be qualifying for capital allowances. The costs of the […]
Read moreAsbestos was extensively used in many building materials; therefore large quantities of asbestos still remain in buildings that were built prior to the restriction of asbestos use. These materials represent one of the most significant occupational health risks in the UK.
Control of Asbestos at Work Regulations 2002, Regulation 4 places a specific legal duty on […]
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 […]
Read moreClient purchases offices for £10m and spends £16m on refurbishment
Claim made for Enhanced Capital Allowances (ECA) of £0.5m – qualifies for 100% first year allowances. This flows through to a £0.1m tax saving
HMRC query the eligibility of the light fittings claimed as ECAs
Lovell Consulting involvement:
Additional £3m allowances identified on plant installed within the property as […]
Read moreCapital Allowances Case Summary: Rogate Services Limited v HMRC [2014]
Release Date: 25 March 2014
Overview
Whether expenditure on constructing a Car Valeting Bay is plant.
It was held by the First-Tier Tax Tribunal that the valeting bay was not plant. The building does not perform a function, it was a place of work which does not amount […]
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