E³ Consulting puts property tax on the radar

Managing director Alun Oliver and property taxation surveyor Todd Arnison unravelled the intricacies of capital allowances in property transactions during the webinar, titled ‘Commercial property purchases – is tax relief on your radar’.

They explained how failing to manage capital allowances before a sale completes – with arrangements in the contract – could result in any tax relief being lost.

Alun said: “The webinar provided a timely reminder that it is absolutely essential for a purchaser to understand the capital allowances position from the outset of a transaction.

“It is important that they are dealt with as part of the heads of terms and clearly covered by the CPSEs (Commercial Property Standard Enquiries) with obligations put into the contract.

“Since New Fixtures Rules came fully into effect in April 2014, failure to meet the requirements results in a default position of zero tax relief for the purchaser.”

The 90-minute webinar comprehensively covered the different capital allowances reliefs and allowances available. It also included detailed case studies illustrating various aspects of the legislation and a Q&A.

Todd said: “This was another very successful webinar.

“It was well attended by property professionals including architects, solicitors, investors, accountants, surveyors and planners as well as a mix of existing clients and newcomers.

“The benefit of holding a webinar rather than a seminar meant that we had attendees from across the country, including London, across the South coast- from east to west- Bristol and as far afield as Edinburgh.”

The webinar also featured updates about freeports and touched upon Land Remediation Tax Relief, the Community Infrastructure Levy (CIL), Stamp Duty Land Tax (SDLT) and dispute resolution.

Watch the video of the webinar here (https://www.youtube.com/watch?v=KVaVSG_OQ6c).  Should you have any queries regarding the content of this webinar then please do get in touch with one of our team.

For more information about capital allowances or any wider property tax matters, please contact E³ Consulting on 0345 230 6450 and/or hello@e3consulting.co.uk for an initial, complimentary, no-obligation discussion.