We are happy to provide introductory fees, if appropriate to do so, ensuring that you benefit for any assistance your firm may provide. If your company does not require an introductory fee, we will consider to pass on the financial benefit as a saving to your client when negotiating our performance related fee level.
Recent Legislation Rules and their IMPACT.
Following the Budget 2012, new rules have been introduced governing capital allowances which have an impact both now and from April 2014 for anyone dealing with commercial property.
The changes are summarised as follows:
- We have progressed through a transitional period in terms of the legislation on capital allowances. On 1 April 2012 the rules on capital allowances changed, and have changed again from 1 April 2014.
- The new rules introduced a mandatory pooling requirement and a fixed value requirement.
- The fixed value requirement requires the seller and buyer of a commercial property to negotiate a joint election under s198 or s199 CAA 2001 as to the proportion of the purchase price which is dedicated to the fixtures.
- The pooling requirement means that for the purchaser to claim capital allowances the seller and any previous owners must have pooled the expenditure.
- The new rules mean that more complete tax elections and a proper capital allowances history of the property is required if a property is to be bought or sold without losing the benefit of capital allowances.