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Basic guide to capital allowances

The purpose of this guide is to provide a basic overview of the Capital Allowances regime that exists in the UK and its relevance to owners, occupiers and investors in Commercial Property. The guide describes the different types of Allowances currently available, who is entitled to claim them and what they are worth.

Finally, the guide looks at the basis on which these allowances are given and in particular the different rules that exist whether developing a new property, acquiring an existing property or fitting out a property for your own occupation.

A basic guide to Capital allowances May 2015


Business premises renovation allowance

The concept of Business Premises Renovation Allowances (BPRA’s) was first introduced in the Finance Act 2005 but did not come into effect until 11 April 2007.  The scheme originally had a life of five years but this was extended for another five years in the 2011 Budget to 2017.

Business premises renovation allowance


Capital allowances on fitting out works

When a tenant spends money on fitting out a property there are a number of issues that need to be looked at in order to establish the tax relief available through capital allowances

Capital allowances on fitting out works


Capital allowances on fixtures - A practical guide to the changes

Since 1985, when the special capital allowances rules for fixtures were first introduced, the intention has been that expenditure on a qualifying fixture should be written-off against taxable profits only once during that fixture’s economic life.

Thus, where a building containing second hand fixtures is sold, there are limiting provisions to ensure the new claimant’s entitlement does not exceed the disposal value which the seller is required to bring into account for those same fixtures.

Capital allowances on fixtures - A practical guide to the changes


Capital allowances when refurbishing a building

When a property owner or tenant undertakes the refurbishment of a building, there are two key questions that need to be asked in order to establish the tax treatment of the expenditure.

Capital allowances when refurbishing a building


Capital allowances - Elections

The issue of capital allowances elections is not always straightforward and errors can sometimes prove costly. The purpose of this guide is to set out, for each type of election, the key points of practice and potential problem areas.

Capital allowances - Elections


A guide to long funding leases

The significance of Long Funding Leases is that they potentially deny Capital Allowances to lessors, including Landlords, who lease certain items of plant or machinery. It is important, therefore, to understand exactly what Long Funding Leases are and when they might apply.

A guide to long funding leases


Reclassifying prior claims on industrial building allowances

The purpose of this guide is to clarify the position where a prior claim for Industrial Building Allowances (IBA’s), or Hotel Building Allowances, has been made by a taxpayer on assets that could otherwise have been claimed as qualifying expenditure on plant and machinery fixtures.

Reclassifying prior claims on industrial building allowances