Where did I read that???

Where did I read that???

Didn't find your answer?

I have recently read in one of the taxation magazines an article discussing the analysis of plant expenditure from industrial buildings.
The article gave some estimates of percentages of elements qualifying as plant for certain buildings (eg. Nursing homes etc.)

Can anyone point me to the article, or am I dreaming?

Mark Andrews

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By AnonymousUser
31st Jul 2002 16:47

Capital Allowances specialists
As in all walks of life, I would advise consulting more than one specialist to ensure best advice and competitive fees. Consultancies such as Capita Property Consultancy usually provide a free initial assessment compiled by professionally qualified staff.

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By AnonymousUser
30th Jul 2002 15:35

Typical percentages
These figures, as commented earlier, are mainly to aid decision making as to whether or not it is feasible to claim capital allowances.

If the buildings concerned are new, the it is best to refer to the actual pricing documents which would have been prepared. These should supersede any guidance which may be issued within IR.

If such guidance does exist, it is probably derived from the advice of the Valuation Office.

Whatever the situation, someone with knowledge of construction costs and capital allowances expertise should be able to maximise the allowances claimable.

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By AnonymousUser
24th Jul 2002 15:07

Gift horses
What a cynical person Mr Rees is! Is he suggesting that accountants would come up with a spurious split just to grab attention and then steal some work?

Well if he is, he is almost correct. There have been articles saying "x" per cent" qualifies as plant and I have been know to say "typically, x per cent of a new build like this will be plant". That is no more than a figure plucked from experience so that the client can decide whether or not they want to go ahead with the full analysis work or not claim the allowances.

Phil is also right about reading the legislation. For example, fire safety work will qualify for CAs as plant and machinery if it is to obtain the relevant certificate. I did read somewhere that nursing homes don't obtain that type of certificate so that work on fir safety at a nursing home does not automatically qualify for CAs.

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By AnonymousUser
24th Jul 2002 13:35

horse's mouth

There is no automatically allowable percentage as such. The estimates are just attention seeking devices. You have to do the sums.

Why not go straight to the legislation and read what is and is not plant? If you want plain English then go to the new Capital Allowances Act 2001 at sections 21 to 23. It is clearly set out in "List C". If you haven't got your new book yet then you can find it at Schedule AA1 of the 1990 Act.

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