Tax position for fixtures in commercial buildings – rules changed on 1st April 2014 could seriously impact commercial property owners

Purchasers of commercial buildings such as a factory or offices must jointly elect to fix the value of the fixtures in the contract to be able to claim any capital allowances on those fixtures.
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Off Plan Property Purchasing Popular Again?

Barratt Developments chief executive has stated that the off plan purchasing of new properties is again on the rise.  This is most predominant in London and the South East.

Barratt Developments, Britains biggest New Home developer issued a formal “Trading update”.  It noted that the company ghas been buying land again since mid 2009 and that the number of reservations of new homes was up as well as an average increase in achieved prices of 4%.  (This can of course be partly due to a change in the mix of units that has come on line.)

It will be interesting if this activity is reflected in the announcements of Britains other major house builders over the coming weeks.

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15th January, 2010