Capital Allowances, Trustees and Tax Havens – Time to Act Now
Capital allowances are available when taxpayers incur expenditure on buying, building or refurbishing commercial property and the tax benefits can be significant. It is a non contentious way of reducing a tax bill but in our experience is frequently overlooked. Many property owners holding UK […]
Read more
e have come across a number of situations where non-specialist solicitors, accountants and tax advisers have not recognised that a little knowledge can be a dangerous thing. This interview with former Valuation Office Agency (VOA) specialist Michael Edwards highlights the importance of considering Capital Allowances early in Commercial Property transactions.
Michael joined Lovell Consulting after 15 […]
Read moreIntroduction
Nursing homes have substantial imbedded plant and machinery (P&M) items and repairs. However the less obvious items often get overlooked by accountants and tax advisors.
Why does this happen?
There are many obvious items of plant such as loose furniture and fittings which accountants can easily identify and segregate to allowances. However there are additional imbedded trade […]
Read moreDerelict 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 […]
Read moreIntroduction
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 moreSince April 2014 the legislation has been substantially tightened for capital allowances when buying commercial property.
The allowances can be significant and often represent around 10%-25% of the purchase price of the property. There are standard Commercial Property Standard Enquiries (CPSEs) for use by the property lawyers, intended to establish the extent of any allowances available […]
Read more
John Lovell of Lovell Consulting , interviewed by Melissa Moore of LexisPSL Property, reflects on how changes to the Finance Act in April 2014 have affected real estate transactions.
Why are capital allowances important to property clients and their lawyers?
Businesses are overlooking millions of pounds worth of tax allowances. Commercial property owners may be failing […]
Read more
The new environment for capital allowances.
Why specialist help is essential.
Introduction
In the present environment tax planning has become very political. One area that successive UK governments have encouraged is the claiming of capital allowances.
Businesses are overlooking millions of pounds worth of tax allowances and your clients are likely to be among them. The reason the majority […]
Read more