Capital Allowances - Avoiding the Pitfalls for Lawyers & Tax Advisers - Live at Your Desk

Introduction

The session will cover the new 100% full expensing and 130% super deduction and include examples and guidance as set out in the HMRC Capital Allowances Manual.

Furthermore, there will be a recap on the significant changes to the capital allowances regime since April 2014 in relation to buying and selling commercial properties. Without clear and practical advice at an early stage of a transaction, allowances could now either be under claimed or permanently lost.

This can lead to PI claims if this complex area of property tax is not looked at properly.

The virtual classroom session will outline the implications for capital allowances following the Finance Act 2024 with a focus on the 100% full expensing, tax repayments through loss relief, freeport tax sites, the Structures and Buildings Allowance introduced on 29 October 2018 and re-cap the Finance Act 2014 fixtures legislation and how they have worked in practice since inception. With the use of case studies the session will also illustrate how to avoid pitfalls as well as identify key strategies to maximise allowances for either the buyer or seller. It will also consider capital allowances on landlord contributions. There will be an opportunity to ask questions to the speakers, who are leading capital allowances specialists.

Aimed at property lawyers and tax advisers, this live session assumes a working knowledge of underlying capital allowances legislation.

What You Will Learn

This live and interactive broadcast session will cover the following:

• The recently introduced 100% full expensing and 130% super capital allowances
• Freeport tax sites
• Structures and Buildings Allowance
• Reminder of key practical implications of FA 2014 Fixtures Legislation
• Capital contributions to tenant works
• How the rules have worked in practice
• Avoiding pitfalls when buying & selling commercial properties
• Key strategies and case studies
• Commercial Property Standard Enquiries (CPSE) responses
• Capital allowances contract wording
• Potential capital allowances changes going forwards

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.