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Substantial 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 more
When to call in a capital allowances specialist?
Many construction professionals have some knowledge of capital allowances. This can be helpful as it flags the benefits of tax savings to clients. Though as, Alexander Pope mentioned, ‘A little learning is a dangerous thing’.
This article flags why allowances are helpful to tax paying clients. It sets out […]Read more
Derelict 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 more
What is contaminated land?
For the purposes of this tax relief it is where the land contains substances such as asbestos, Japanese Knotweed or sulphate resistant concrete which are causing harm or could possible cause harm, pollute or possibly pollute controlled waters.
Is there a definition of contaminated land costs?
There is a general definition which is that […]Read more
Private 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 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
Asbestos 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 more