I should know the answer to this but it's getting late and I can't think straight.
Client has presented me with a capital allowances report in respect of an industrial unit that he has owned and rented out since 1994. Report has identified expenditure on integral features and plant and machinery (by apportioning the original purchase price based on replacement cost. Am I correct in thinking that because the expenditure was incurred before 6 April 2012, capital allowances can still be claimed under the old rules i.e. the 2012 and 2014 changes do not apply? I assume that the rates will be 8% for the integral features and 18% for the plant and machinery i.e.no AIA due. Also, instead of claiming on the 2013/14 tax return (currently being prepared) can I amend the 2012/13 tax return instead?