the captical allowances

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Our Latest Publications

Our Latest Publications

Capital Allowances: Transactions and Planning 2014/15

RICS Black Book Guidance Note

Other Books and Press Articles
Publications from The Capital Allowances Partnership Limited

Our Publications

Books

Press Articles

Transaction Support for Conveyancers

What is the Issue?

Substantial tax relief is at stake from capital allowances on both sides of a commercial property deal. The rules governing how those allowances transfer between seller and buyer became considerably more risky and complicated from April 2014.

It is no longer safe to assume that securing allowances can be dealt with by the client's accountant after completion. It must be addressed at the contract stage. Conveyancing practitioners are recommended to advise their client to obtain appropriate assistance from a suitably qualified and experienced specialist capital allowances adviser, such as The Capital Allowances Partnership Ltd.

Practical Law Company's official Practice Note by one of our directors on replying to CPSE.1 enquiry 32 on capital allowances.

What help can we provide?

The Capital Allowances Partnership Ltd provides cost-effective transaction support for solicitors/conveyancers. This ensures that your client achieves the best tax outcome, and protects you from potential disputes with clients, such as complaints or negligence claims.

We provide a tailored service to meet specific circumstances. This can include advising on your client care letter terms and other communications with clients to limit or exclude liability for capital allowances matters.

We can advise either the seller or buyer, or in appropriate circumstances act as a single joint adviser to streamline the process and minimise overall fees. Typically, our services include:

For Buyers:

  • Drafting bespoke pre-contract enquiries on capital allowances;
  • Interpreting the seller's replies relating to capital allowances;
  • Where required, ensuring that vague or incomplete replies are followed-up so that substantive information is provided;
  • Preparing a Report on Capital Allowances Entitlement with assessments of value for appropriate scenarios, allowing the client to make an informed decision on how to proceed;
  • Negotiating over capital allowances with the other side;
  • Providing capital allowances clauses, warranties and elections for contracts that protect the buyer's position;
  • Preparing specialist valuations for capital allowances purposes.

For Sellers:

  • Drafting replies to pre-contract enquiries (based on information provided by the client or their accountant);
  • Reviewing the property's tax history to assess the scope for identifying additional unclaimed allowances;
  • Assessing the tax implications of either passing-on or retaining allowances, allowing the client to make an informed decision;
  • Negotiating over capital allowances with the other side;
  • Providing contract clauses, warranties and elections to achieve the seller's objectives;
  • Preparing specialist valuations for capital allowances purposes.

What does it cost?

We always agree fees in advance depending on circumstances. These are treated as a routine transaction disbursement. The cost of our conveyancing support typically ranges between £500 and £1,500, plus VAT. This normally pays for itself many times over.

Where capital allowances valuation work is required for either buyer or seller (or both), including reviewing and commenting on another firm's valuation work, we will enter into a separate agreement with the relevant party including agreeing an appropriate fee.

Why involve us?

The Capital Allowances Partnership Ltd are leading capital allowances experts and authors. We drafted the capital allowances parts of CPSE.1 and the supplementary Practical Law Practice Note as well as writing the capital allowances aspects of Lexis® PSL Tax (online guidance for lawyers).

To protect your firm and ensure your clients take full advantage of capital allowances opportunities please:

Send us a message to capconveyancing@cap-allow.com or call us on 0333 123 1203 which costs the same as a standard landline call even from your mobile.

All enquiries are dealt with in the strictest confidence, and we never pass on your contact details to a third-party.

Send us a Message...

Give us a Call...

London and the East Midlands:-

Martin Wilson

Telephone: 0116 241 4148

Mobile: 07799 473 562

West Midlands, South West & Wales:-

Adam Garrad

Telephone: 0121 354 1338

Mobile: 07799 473 561

The East and South East:-

Steven Bone

Telephone: 01353 675 224

Mobile: 07880 711 368

The North, Scotland and Ireland:-

Steven Burchill

Telephone: 01506 811 561

Mobile: 07799 473 566

Our Latest Publications

Our Latest Publications

Capital Allowances: Transactions and Planning 2014/15

RICS Black Book Guidance Note

Other Books and Press Articles
Publications from The Capital Allowances Partnership Limited

Our Publications

Books

Press Articles