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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


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