Specialist in providing capital allowances advice on commercial properties throughout the UK. This includes new build developments, refurbishments, fit outs and acquisitions.
Experience covers a broad range of sectors including; - Commercial offices - Retail - Industrial and distribution - Food manufacturing - Primary and secondary healthcare - Hotels, pubs, nightclubs and restaurants - Renewable technologies including wind, hydro, biomass and CHP
Yes, tenants can claim capital allowances on fit out expenditure as long as they have a relevant interest in the land (e.g. a leasehold) and have incurred capital expenditure. What relief they get will depend on the nature of the works undertaken.
Morning. My views are that the creation of the bike trail would not be allowable for plant and machinery allowances. It would be caught by the exclusions under CAA2001 s22 list B (2). "A way, hard standing (such as a pavement), road,...."are defined as a structure and do not qualify for PMA. It would also be caught by s22 1 (b) Works involving the alteration of land do not qualify for PMAs. You would be able to claim main pool allowances on signage and potentially SBAs on the creation of the bike trail but not PMAs. Hope this helps. Thanks David
I am based in Glasgow but, as with most capital allowances consultants, have clients and projects across the UK http://www.henryconsulting.co.uk
As some background, I worked with Steve Dunham whilst we were at KPMG in London and Steve Bone from the Capital Allowances Partnership was one of my assessors when I sat my RICS APC. So there are some very experience guys out there but also a lot that have jumped on the bandwagon.
There are an ever increasing number of firms that offer capital allowances advice. They fall into four categories in my opinion 1) Big 4 accountants that have in house teams 2) Large accountants and chartered surveyors that tend to focus on the South East with some of their regional offices offering capital allowances advice 3) One and two man bands (like me) that have worked for one of the big firms and have surveying and/or tax qualifications and 4) The call centre mass marketing firms.
As Mr Westwood has said, outsourcing this type of work is common when you do not have in house specialist resource.
A couple of points that you should consider when looking for a preferred partner 1) Track record - If a fellow accountant or tax adviser can recommend someone they have used in the past that should give you some comfort 2) Fee levels - some of the fees that I have seen being charged by some do not, in my opinion, represent good value to clients so don't always go with the first quote
My answers
Hi,
Yes, tenants can claim capital allowances on fit out expenditure as long as they have a relevant interest in the land (e.g. a leasehold) and have incurred capital expenditure. What relief they get will depend on the nature of the works undertaken.
Hope that helps.
Thanks David
Morning. My views are that the creation of the bike trail would not be allowable for plant and machinery allowances. It would be caught by the exclusions under CAA2001 s22 list B (2). "A way, hard standing (such as a pavement), road,...."are defined as a structure and do not qualify for PMA. It would also be caught by s22 1 (b) Works involving the alteration of land do not qualify for PMAs. You would be able to claim main pool allowances on signage and potentially SBAs on the creation of the bike trail but not PMAs. Hope this helps. Thanks David
Sunny Scotland
I am based in Glasgow but, as with most capital allowances consultants, have clients and projects across the UK http://www.henryconsulting.co.uk
As some background, I worked with Steve Dunham whilst we were at KPMG in London and Steve Bone from the Capital Allowances Partnership was one of my assessors when I sat my RICS APC. So there are some very experience guys out there but also a lot that have jumped on the bandwagon.
CA Specialists - lots out there
There are an ever increasing number of firms that offer capital allowances advice. They fall into four categories in my opinion 1) Big 4 accountants that have in house teams 2) Large accountants and chartered surveyors that tend to focus on the South East with some of their regional offices offering capital allowances advice 3) One and two man bands (like me) that have worked for one of the big firms and have surveying and/or tax qualifications and 4) The call centre mass marketing firms.
As Mr Westwood has said, outsourcing this type of work is common when you do not have in house specialist resource.
A couple of points that you should consider when looking for a preferred partner 1) Track record - If a fellow accountant or tax adviser can recommend someone they have used in the past that should give you some comfort 2) Fee levels - some of the fees that I have seen being charged by some do not, in my opinion, represent good value to clients so don't always go with the first quote
Hope this helps
Kind regards
David Henry