There is currently HMRC consultation on the introduction of mandatory pooling which is likely to come into force either on budget day or from 6 April 2012.
This will effectively curtail the ability to claim capital allowances on plant and machinery which forms part of the fabric of a building which was bought more than two years previous.
Currently, upon a report by a specialist surveyor, it is possible to make a claim for allowances in respect of plant and machinery which is ‘fixed’ to the building (such as sanitary wear, central heating etc) even if it was purchased many years ago.
There is therefore a small window of opportunity to make such a claim for a commercial/business property or a furnished holiday let which was bought more than 2 years ago.
See the case study in Proactive for more information.