Fixtures Consultation - HMRC Seeks to Close the Door on Historic Capital Allowances Claims

HMRC is seeking business views on tightening the rules on claiming capital allowances on fixtures.  Second hand commercial property has always been a goldmine for capital allowances, with the fixtures contained within these properties yielding thousands of pounds of tax relief for their owners.  However, the Government is now proposing to tighten the rules on claiming this relief by forcing taxpayers to make any claims for allowances within a short period of acquiring the property.

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