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Business Link – A note on buy-to-let property

by admin on September 19, 2012

Extract taken from the Business Link website: http://www.businesslink.gov.uk/bdotg/action/detail?itemId=1086385315&r.i=1086385126&r.l1=1073858808&r.l2=1086692188&r.l3=1086445219&r.l4=1086384812&r.s=sc&r.t=RESOURCES&type=RESOURCES

Fixtures in buildings You may be able to claim plant and machinery allowances for expenditure on certain fixtures in a building that is in use for the purposes of your business. This expenditure either qualifies for writing down allowances at the rate for the main pool, currently 20 per cent or, if the fixtures are long-life assets, at the rate for the special rate pool, currently 10 per cent.

Qualifying fixtures can include:

  • some kitchen equipment
  • bathroom suites and some fittings
  • fire alarm systems
  • CCTV
  • burglar alarm systems

Leased out dwelling property – restrictions Note that you can’t claim capital allowances for expenditure on fixtures for use within a UK or overseas property used as a dwelling house that you rent out. However, items for use within common parts of a building may qualify.

The important part to read here is the very last sentence: ” items for use within common parts of a building may qualify”.   In other words, there is opportunity to claim on residential buy-to-let properties under certain circumstances.

WE CAN SAVE YOU TENS OF THOUSANDS IN TAX RECLAIMS AND FUTURE SAVINGS.

CALL US TODAY ON 020 3291 1943


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