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Issue:
4477
/
Categories:
Comment & Analysis
, Business
, Capital allowances
, Investments
, Land & property
Tread carefully when buying commercial property
KEY POINTS
- Eligibility for capital allowances can be an effective discount in the price of property.
- Capital allowances claims may fail if the pooling requirement is not satisfied.
- The application of the fixed value and disposal value requirements.
- Making a relevant apportionment with a joint election under CAA 2001 s 198.
- Ensuring that the correct information passes from vendor to property purchaser.
- The acquisition of properties from non-taxpaying sellers.
You receive a phone call from your client Fred: “I’ve bought new business premises – completed yesterday. It was a really good deal and I should get lots of capital allowances because they carried out a major refurbishment only in the past couple of years.”
“OK Fred that’s really great. What did you include in...
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