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 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 be unhelpful and […]
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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 moreAs acknowledged in HMRC’s Capital v Revenue Expenditure Toolkit, ‘there is no single, simple test that can be applied to decide which items are capital expenditure and which are revenue’
Differentiating between capital and revenue expenditure can be complex and in the absence of any definitive direction from HMRC, consideration has to be given to legislation […]
Read moreWhen 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 […]
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