Government Legislation Change April 2014


From April 2014 capital allowances need to be considered at the time at which commercial property transactions are undertaken. 

Broadly, the ‘new’ rules stipulate that the vendor must pool all allowances on which they were entitled to claim and enter into an election with the purchaser to fix the value of the assets to be transferred.  If the capital allowance position is not resolved within two years of the transaction date then the ability to claim allowances will be lost.   

Working alongside your solicitors, BDO/Roger Hannah & Co can provide assistance in ensuring that the appropriate clauses to facilitate the claims for capital allowances are included in the purchase contracts.  The ‘new’ rules can become complex however we have expertise in ensuring the process is managed in a timely fashion so as not to delay the property transaction.

We also receive instructions on behalf of buyers pre purchase, ensuring that the maximum level of capital allowances can be identified and claimed post purchase.

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