Commercial claim

I act for a client who owns a commercial building which he lets out as individual industrial units. He bought the building in 2005 and spent money at that time refurbishing it.

He is trying to sell this building and I am aware that there is now a pooling requirement with regard to a sale of a building where capital allowances have previously been claimed.

The capital allowances claimed on the individual shell units were not particularly large. However several items would qualify as integral features since April 2008 and their treatment is in point here.

The main issues are as follows.

• Whether the pooling requirement will extend purely to the capital allowances which my client has claimed in respect of the building.
• As a negotiating point could a purchaser of the building today claim the annual investment allowance on integral...