the captical allowances

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Land Remediation

Since 2001, additional relief has been available for the cost of surveying and cleaning up contaminated land.

The definition is a wide one, and can extend, for example, to removing Asbestos from buildings.

Capital Allowances Rate

The relief is given at a rate of 150%, and is available to both property investors and traders.

Handling Tax Losses

If the 150% deduction gives rise to a tax loss, it may be swapped for a cash tax credit payable from HMRC equal to 16% of the loss (that is, a £2,400 cash payment for every £10,000 of loss surrendered).

 

 

 

 

 

 

 

 

 

 

 

 

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Capital Allowances: Transactions and Planning 2014/15

RICS Black Book Guidance Note

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