Market leading insight for tax experts
View online issue

Ask an expert: capital allowances

Question

I have taken on a new client which owns and operates several nursing homes. It has claimed capital allowances for routine additions like beds.

However it did not claim anything for the freehold purchases and has heard that it potentially can. Is this correct? And how should it go about it?

Answer

Yes potentially your client should be able to claim capital allowances.

Under the general rules plant and machinery (P&M) includes both moveable items (eg furniture) and fixtures inherent in the fabric of the building.

Examples of the latter include sanitary appliances and fire alarms. Also for expenditure incurred from April 2008 many major assets are now designated...

If you or your firm subscribes to Taxjournal.com, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
EDITOR'S PICKstar
Top