1878 – The origin of the current capital allowance regime was a wear and tear deduction, based on the actual reduction in the value of Plant or Machinery (P&M). 1945 – ‘Income Tax Act’ introduced a system of capital allowances to encourage post war reconstruction, establishing concepts such as initial allowances, WDA’s, balancing allowances and…
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I am sure you know by now that from 1st April 2014 (new rules), at the time at which commercial property transactions are undertaken, the Capital Allowances position must be considered. Roger Hannah & Co quietly reminds you that this Government Legislation remains pertinent today. £190,896 = average Capital Allowances claim for a single property…
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Roger Hannah & Co advises that you can now only claim a maximum of £200k AIA on plant and machinery, including fixtures and fittings + integral features that is identified within a commercial property within the same year of acquisition. Historical changes to the AIA The AIA has changed 4 times since 2008 and is…
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Keeping with the theme of fireworks that are to be beautifully displayed later this week, Roger Hannah & Co is happy to announce the explosive Capital Allowances results of last month. It has been another positive month for Roger Hannah & Co. In October, we identified more than £2m of Capital Allowances, held within our…
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Roger Hannah has been instructed to market Meadow Mill in Stockport for sale and is inviting offers over £2.5m. The imposing seven storey Mill is something of a landmark, overlooking the Portwood Roundabout (junction 27) of The M60 adjacent to Tesco Supermarket and S-Park, on the fringe of the town centre. Stuart Cooper, Director of…
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Terminology of Capital Allowances (CAs) Must A specific requirement in legislation or of a principle, rule, outcome or other mandatory provision in the SRA Handbook. The Pooling Requirement and Fixed Value Requirement rules will mean that the CAs issue must be dealt with at the point of sale, accompanied by documentation which will, it is…
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Annual Investment Allowance (AIA) to be permanently set at £200,000 for the duration of this Parliament. The government is further supporting investment by small- and medium-sized firms (SMEs) by increasing the permanent level of the Annual Investment Allowance (AIA) to £200,000 for all qualifying investment in plant and machinery made on or after 1 January…
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Do you know how the change in Legislation could financially affect you? A Government Legislation surrounding Capital Allowances was recently changed on 1st April 2014, instructing the identifying of a ‘pooling requirement’ and ‘Fixed Value Requirement’ to be achieved at point of sale. If the parameters of this new measure are not adhered to, any…
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