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Super-deduction Good News!

The new Super-deductions announced in the March 2021 Budget were specifically excluded for Companies that incur expenditure on assets for leasing such as Landlords.

On the 18th May 2021 an amendment to Clause 9 of the Finance Bill 2021 confirmed that the 130% Super-deduction on Main Pool assets (increased from 18%) and 50% Special Rate Pool assets (increased from 6%) will now be available to leased plant. This will mean that property companies will be able to benefit!

So if a landlord spends £1m on main pool items such as kitchens, toilets, carpets and fire alarms etc.. they can deduct £1.3m against their rental income in year 1 rather than 18% (i.e. £180k).

On Special Rate Pool expenditure such as heating, air conditioning and lifts, if a landlord spends £1m they can deduct £500k in year 1 rather than 6% (i.e. £60k0, with the remaining 50% to b applied against the Annual investment Allowance (AIA).

These Super-deductions are still only available to companies and not individuals or LLP's and apply to new expenditure on plant and machinery (i.e. unused and not second-hand) up to the 31st March 2023.

Specific claw back rules apply on disposals within certain timeframes.

Specific details will be published within HMRC guidance notes and the Finance Act.

Our services

Preparation of capital allowances reports
We prepare fully disclosed capital allowances reports for both property acquisitions and enhancement projects.
Strategic advice
We provide strategic advice throughout the property cycle including s198 elections, contributions and land remediation relief.
Due diligence
We liaise with the client and their advisors to ensure that the capital allowances position is protected during the acquisition, disposal and leasing of property.
Initial reviews
We offer a free initial review to establish if a capital allowances opportunity exists. This review is carried out with minimal time and disruption to the client.
Negotiation with the tax authorities
We apply an enquiry mitigation strategy to all of our client work. Our experience and extensive knowledge of tax legislation and case law enables us to assist with potential HMRC enquiries.

What our clients say

"Colne Capital Allowances provided us with a professional strategic approach to capital allowances and a personal service, helping us make significant tax savings"
Paul Crosbie, Fund Manager, M&G
"Colne Capital Allowances have worked across a number of our property funds and across all asset classes for over 17 years. Their proactive approach throughout our property fund cycle has ensured that our funds claim all the tax savings which they are entitled to. They consistently deliver a high quality service combined with a personable […]
Chris Warren, Managing Director - Fund Services, Patrizia
"David has always been very responsive and produced excellent quality reports that have enabled clients to claim all allowances they are due. A pleasure to work with."
Andrew Noton, Partner - Lubbock Fine
"Colne Capital Allowances made dealing with our capital allowances as simple and professional as can be. The process was seamless and the results outstanding."
David Butcher, Upham Pub Group
"Colne Capital Allowances will always tell us up front if there is a case to be pursued. We find their charges very acceptable, and the success rate on our cases has been 100%. First rate service."
Martin Waller, Investra Capital & Pelham Associates
"I've worked with David over many years, recommending his invaluable service to many others too. The relationship gives me peace of mind, support in abundance and a 'can do' attitude that makes light work of the tasks"
Gill Kreft, Pendine Park Care Organisation

Expert industry insight

Super-deduction Good News!
Potential good news for Landlords as leasing restriction may be amended.
Read more
New Changes - Budget 2021
Exciting new changes to the capital allowances regime
Read more
Annual Investment Allowance (AIA) – Extension of £1m AIA- 1st January 2022
Is 2021 the best time to carry out qualifying expenditure
Read more

Get in touch

If you would like to discuss our services in more detail or would be interested in a free initial review please contact us
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