London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

Capital Allowances on Fixtures

The treatment of fixtures in buildings for capital allowances purposes has been amended from April 2012:

  • Expenditure on qualifying fixtures must be pooled before a sale for the new owner to be able to claim capital allowances.
  • Thereafter the purchaser and seller need to make an election to split the total proceeds between the building and fixtures.  The split is up to the parties to agree, as  long as it does not exceed the original cost.

There are transitional rules, until March 2014, that permit claims by a purchaser where the seller has made no claim.

 

 

Date: 12th April, 2012
Author: Cathy Corns

SHARE THIS

Articles from this Author

Contact Business Service Partners

Choose from the drop down menu below to select a Partner to contact.

Tweet

“Good luck to everyone who has also made it as a finalist, I look forward to awards evening later on in the year”-L… twitter.com/i/web/status/8…

Michael Lapham shortlisted in the Money Management Financial Planner Awards 2017 bit.ly/2fL8VXBtwitter.com/i/web/status/8…

Follow

LinkedIn

For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn