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Qualifying Expenditure

Qualifying expenditure will generally be the cost of the Plant and Machinery to the taxpayer.

It does not matter how long a building has been owned or when the expenditure was incurred, as a claim can be made at any time.

The value of capital allowances will depend on when qualifying expenditure is incurred.

Where expenditure was incurred prior to April 2008, writing-down allowances on Plant and Machinery were available at a rate of 25% per annum on a reducing balance basis.  Following the Finance Act 2008 this was reduced to 20% for periods after April 2008, and with effect from April 2012 will be reduced to 18% per annum on a reducing balance basis.

For expenditure incurred after April 2008, The Finance Act 2008 introduced a 10% writing-down allowance for expenditure on assets regarded as Integral Features and on Long Life Assets, which from April 2012 will be reduced to 8% per annum on a reducing balance basis.

Integral Features as introduced by the Finance Act 2008 include the following:-

All other expenditure on qualifying assets are treated as Plant and Machinery and attract 20% writing-down allowances, reducing to 18% with effect from April 2012.

Prior to the introduction of these Integral Features provisions, certain assets in most circumstances including general power and lighting, cold water systems and external solar shading, did not qualify for capital allowances.

 
 
 

The information contained in our website is believed to be correct, but there may be errors or omissions for which PJB cannot be responsible. It is therefore essential to take advice on specific issues.

 

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Purchase Price

This is the original or anticipated purchase price or development cost of your property.

Do not enter the current value here.

Building Type

Please provide the type of building you are looking to claim allowances on.

Note: You will be able to add further information about the type of building in the next step.

Your options here are;

  • Office.
  • Retail: Including high street, shopping centres and retail warehouses.
  • Mixed Use.
  • Industrial: Including warehouses and distribution centres.
  • Other: Leisure, hotels, casinos etc.
Building Category

Please select the description that best suits your property.

Other Information

Please provide any additional information about your property that you may consider appropriate.

Floor Area

Please enter the total floor area of the property.
You can provide either square footage or metres, but only use figures here.
The floor area you specify can either be gross or net internal space.

Floor Area Units

Please select the type of area e.g. Metres or Feet
and if the measurement has been taken as net or gross internal space.

Date of Purchase

Please enter the approximate month and year of purchase, or
if you have developed the property, please provide the
approximate date of completion.

Location Of Property

Where is the property located? Please provide town/city, and country.