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Not quite rock’n’roll
KEY POINTS
- Complexity of fixed value and mandatory pooling requirements.
- Elections should be specific and not use catch-all phrases.
- Ensure that elections are made within the two-year time limit.
- Apportionment for integral items claimed under CAA 2001 s 562.
Capital allowances have become a hot topic in recent years but they are often overlooked and undervalued by commercial property owners. These owners – whether individuals or businesses – incur vast amounts of capital expenditure but are often unaware that it is possible to separate the cost of the land bricks and mortar from the fixed plant and machinery that allow the building to function – and thus the element that qualifies for tax relief.
Double-edged sword
More confusion was created with the introduction of the fixed value...
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