FHL_ Capital Allowances

FHL_ Capital Allowances

Didn't find your answer?

Does anyone know about the new rules which allow furnished holiday letters to claim 25% of the purchase price of the property in tax allowances for plant and machinery  essentila to the running of the buisness?  I can't seem to find anything about this and I have a client who has been approached  by a specialist company wanting to to sort this out for him - at a cost needless to say.

Replies (1)

Please login or register to join the discussion.

Teignmouth
By Paul Scholes
31st Jan 2012 14:45

Integral features

Hi - this has actually been around since 2008 see HMRC manual and there are lots of companies around who will do the work for you the main consideration being that assessing the proportion of a structure that represents water works / heating / electrical etc etc is specialist property surveyor type work, so don't count on 25%, it could be more or less.

As with any such change in tax legislation there was a flurry of companies who jumped on the bandwagon claiming unrealistic results & methods and charging accordingly however there are also some long standing experts who do a good job for a reasonable fee.

I've just been through one with a guy who has posted on AccWeb in the past and it was great.  If you are interested PM me and I'll check if he's in the market for more work.

Thanks (0)