#159

You’ve probably heard about Capital allowances. You might even know something about this generally little known area of tax relief. But I’m sure you’d like to know more, right?

If you have Commercial property, Serviced Accommodation or even HMOs, then it’s definitely worth your while listening to this two-part special on Capital Allowances because it could save you thousands of pounds. And who wouldn’t like that?

Not many people know more about Capital Allowances than Arthur Kemp of Exact Capital Allowances so, you'd be well advised to listen now as we discuss:

- Types of properties that qualify for capital allowances

- Discussion on the legislation surrounding capital allowances

- The distinction between dwelling houses and non-dwelling premises

- Qualification of commercial properties, serviced accommodations, and HMOs

- Case law and challenges related to HMO properties and capital allowances

- Identification of second fix items

- Examples of items that qualify for capital allowances

- The exclusion of structural elements from capital allowances

- Specific items that can be claimed including lighting, heating systems, security, soft furnishings, and more

- The confusion around claiming capital allowances in HMOs

- Differentiation between common areas, communal areas, and dwelling areas

- Eligible items for claiming in common areas and the challenges in the HMO sector

- The value of installations and services to the entire property

- Historically changing interpretations and the impact of case law on claiming capital allowances in HMOs

- Potential changes in legislation

- Details about recent spring budget (2024) changes and its implications

- The potential impact on holiday lets and the capital allowances for such properties

- Perspectives on the likelihood of retrospective amendments and implementation of potential changes

In Part Two (Episode 160) we’ll be discussing:

- Deadlines for applications and strategic use of capital allowances

- The mechanism of the annual investment allowance

- The role of capital allowances in building a more profitable UK property portfolio

Keywords:
Expat Property, Capital Allowances, Tax Relief, Commercial Property, Serviced Accommodation, HMOs, Tax Saving, Special, Guests, Arthur Kemp, Ideal Housemates, Kim and Aggie, Carol Vorderman, Boris Johnson, Peace and Quiet, Property Tour, Measurement Tool, Whatsapp Video, Tax Return, Legislation, Dwelling House, Communal Areas, Common Areas, Plant and Machinery, Second Fix Items, Short Term Rentals, Furnished Holiday Lets, Case Law, Spring Budget, Tax Simplification, HMRC