In 2014 new legislation came into force that dictated how Capital Allowances should be treated at the point of disposal or acquisition of a commercial property owned by a UK taxpayer.
These New Rules continue to be very misunderstood and the consequences underestimated. We see more and more examples where a property transaction has taken place and the new rules have not been implemented correctly, if at all, and the net result is taxpayers are losing a benefit that they should have been entitled to. In addition to this, property advisers are exposed to negligence claims.
- Are you in the process of buying/selling a commercial property?
- Have you bought a commercial property prior to April 2014?
- Have you bought or sold a commercial property since April 2014?
- Have you completed significant property improvements to a commercial property you own or lease?
If the answer to any of these questions is yes, please call and let our expertise clarify the situation.
Case History – what can be lost?
One of our clients lost in excess of £160,000 in a transaction which was over two years old and could not be repaired and all parties thought they had implemented the new rules correctly.
Could this be you?
Case History – what can be gained?
When legislation is understood and applied properly, significant tax savings can be secured. The case study attached illustrates a transaction where both the Vendor and Purchaser have secured tax savings and the property advisers involved are not exposed to the risks.
If you have bought or sold a property within the last two years or in the process, contact us as we provide free support.
Latest News
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1 October 2024Our Founder, Paul Roberts, Retires From CARS
Over 25 years ago Paul Roberts founded our company and created the successful firm it is today. It is with mixed emotions that we announce Paul’s retirement from Capital Allowance Review Service (CARS). While we will miss his leadership and unique sense of humour, we recognise that he deserves to spend... -
12 September 2024
The High Cost of Overlooking Capital Allowances
Understanding tax benefits and capital allowances is crucial in the world of property investment. Overlooking these aspects can result in significant financial losses. This article explores a real-life case where a couple’s lack of knowledge and expert advice led to a costly mistake. Early involvement...
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Our expert team are here to help answer any of your capital allowances questions or enquires you have about your commercial property.