Various capital allowances changes have been introduced. The major change affects claiming plant and machinery allowances for the purchase of second-hand fixtures. If these new requirements are not met the buyer cannot claim capital allowances. Nor can any future owner of those fixtures. For expenditure incurred from April 2012, where an owner since April 2012 has claimed allowances, a value for the fixtures must be formally established within two years of the transaction. From April 2014, even where the seller has not claimed but could have done, then the seller must pool the expenditure before the buyer can claim.
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