Can you claim AIA on integral plant and features?

Can you claim AIA on integral plant and features?

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A client (Sole Trader) purchased a business last year. The business included a freehold property and within the sales documentation there was a note that the sale included integral plant and integral features valued at £20K and £15k respectively. Capital allowances have not been claimed on these amounts, I know WDA can be claimed at 18% and 8% respectively. Can AIA 's be claimed on these items?

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By rampanesar
29th Oct 2015 10:49

CA23084

I believe you can.

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Portia profile image
By Portia Nina Levin
29th Oct 2015 10:57

Did the vendor satisfy the pooling requirement? and did your client and the vendor jointly elect for a specific value to apply for the purposes of both of their capital allowances computations?

Integral plant and features are fixtures, subject to the special rules on fixtures.

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Replying to NYB:
Tony s
By Tony S
29th Oct 2015 11:22

Yes, pooling and joint elevtion done .

Yes, the vendor did satisfy the pooling requirements and there was a joint election.

Included with the sales documentation is a fairly detailed report by the vendors accountants listing the qualifying items and the available capital allowances which the purchaser could claim. However no where in this report does it mention AIA, which I find a bit strange, hence my question.

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Portia profile image
By Portia Nina Levin
29th Oct 2015 11:32

Yes you can

Yes, you can claim AIA on the amount specified in the joint election, assuming, of course, that the vendor and purchaser are not connected.

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