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Co-ownership structures and property fixtures claims

20 April 2021 / Rob Durrant-Walker
Issue: 4788 / Categories: Comment & Analysis
All in a name

Key points

  • Partnerships with a corporate partner are not eligible to claim annual investment allowances.
  • Simplified rules on capital allowances apply to co-ownership authorised contract schemes.
  • A real estate investment trust may claim capital allowances despite its tax exempt status.
  • The position of syndicates and annual investment allowances is ambiguous.

Property fixtures claims can add significant value to a client’s commercial property ownership. Typically 5% to 40% of a property’s purchase price including a proportion of stamp duty land tax might be claimed on a purchase or from a ‘historic’ review of a long-held property. Navigating carefully through the entitlement rules can bear out a successful claim which inexperience might otherwise leave fallow. Higher percentages can sometimes be claimed on fit-outs and without the associated entitlement jungle to pick through.

This article outlines how property capital allowances work for different forms of property co-ownership vehicles – partnerships ...

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