Capital Allowances on fixtures not only represent significant opportunities but are now also a veritable mine field waiting to blow up in the face of the uninitiated this is never more the case than when a property changes hand.

When you buy or sell a property there are several requirements laid out in the Capital Allowances Act all transactions post April 2014 must comply with. Doing this generally requires a Section 198 Election to be entered into by the parties. If this is not done both parties can loss all rights to the Capital Allowances, devalue their property and potentially face a snap tax charge from HMRC.

Getting your Capital Allowances ducks in a row during a conveyance is essential to maximising your outcome. STax has advised on a substantial number of conveyances and even though advice is best given before exchange on contract we area also often going back over old transactions looking to repair a fire damaged transaction. Contact us for a free no obligation appraisal of your holdings and position.