Consultation on reducing historical capital allowances claims. Whose the winner?
The Government are currently consulting on reducing the ability of commercial property owners to undertake historical capital allowances claims. The likely effect of this is that from April 2012 capital allowances claims will only be permited where the property has been purchased with the previous two years. This is opposed to the current situation where there is no time limit.
Given this do you think accountants are likely to change their attitude towards introducing third party services to maximise capital allowances claims for those client's who have commercial property?
If not how would these accountants try to explain their decision to a client who finds out after the event that they may have missed out on thousands of pounds in tax rebates and ongoing tax efficiencies?
I can see why the Government and HMRC want this legislation adopted and it seems to me it is going relatively unreported in the press which amazes me.
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