Retrospective capital allowance claim on commercial property

Posted by iainyoung PM | on Thu, 12/04/2012 - 16:08 1773 5 comments | report

I have a client that has several investment properties and we have recently engaged the services of firm of Chartered Quantity Surveyors in order to perform a capital allowances review on these properties. The report has identified a significant value of expenditure on items qualifying as plant and machinery. My questions are:

In order to claim these capital allowances, do I have to resubmit corporation tax returns and computations, for each of the years in which expenditure was incurred? If not, what is the best way to do this?
I understand that there have been changes in legislation regarding capital allowances on commercial property, effective from April 2012. Will this affect the claim?

Comments

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Tax Adjusters -run by an Accountant for Accountants

malcolmrichards | Fri, 13/04/2012 - 10:00

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cparker87 | Fri, 13/04/2012 - 11:21

Spot on

malcolmrichards | Fri, 13/04/2012 - 11:33

Changes

recoup | Sun, 15/04/2012 - 16:45

Capital Allowances Claims

plummy1 | Mon, 16/04/2012 - 16:24