24.11.08
Integral Features – new rules create a degree of confusion as well as opportunities
The new capital allowances rules introduced in April this year created a new category of plant and machinery fixtures known as “Integral Features”. This is causing some confusion to both buyers and sellers of property as there is now the need to give a more detailed analysis of plant items when entering CAA 2001, section 198 Elections. This is needed to ensure that the Election is correctly broken down into those items that qualify for the new 10% rate of writing down allowance and those that will be claimed at 20%.
There are also opportunities for buyers in that in most cases there will be parts of the electrical installation and cold water system that could not previously be claimed but which under the new rules are allowable. The experience so far is that these previously unclaimed items could amount to between 8% & 15% of the purchase price.
For more information or an estimate of what could be claimed on your property, email our helpline@ca-4.co.uk or call 01905 619224.