Do concrete panels count as fittings

[grass man]

That is true but if you ask a professional for advice and he gets it wrong then he must be liable, if not why the hell use one? I dont, and am happy that anything I claim for I can back up

What is your view on the original question?

 

[rob1]

What is your view on the original question?

Well I have claimed CA on panels so I guess that shows my feelings, but HMRC wont allow tax allowances on buildings because they view them as an appreciating asset, panels can be broken or crack from being used before cured properly so there is an argument that they "lose" value so deserve to be allowed a tax allowance in the way tractors etc are, if you sold a building insitu today that you erected five years ago it would make more than it cost , if you took the panels out and sold them its likely they would make less than they cost.

I guess in the end each tax inspector will have a different view and perhaps each case could be different too

 

[grass man]

Well I have claimed CA on panels so I guess that shows my feelings, but HMRC wont allow tax allowances on buildings because they view them as an appreciating asset, panels can be broken or crack from being used before cured properly so there is an argument that they "lose" value so deserve to be allowed a tax allowance in the way tractors etc are, if you sold a building insitu today that you erected five years ago it would make more than it cost , if you took the panels out and sold them its likely they would make less than they cost.

I guess in the end each tax inspector will have a different view and perhaps each case could be different too

Thanks for your view. My accountant takes the view that temporary/moveable wall panels need a structure to support them, therefore a shed that's bolted down then becomes part of the temporary/moveable structure and he says the whole project then becomes eligible for tax relief. He went as far as saying the panels need something to sit on so then the concrete floor is in the same category. Any views on this?

 

[Poorbuthappy]

Thanks for your view. My accountant takes the view that temporary/moveable wall panels need a structure to support them, therefore a shed that's bolted down then becomes part of the temporary/moveable structure and he says the whole project then becomes eligible for tax relief. He went as far as saying the panels need something to sit on so then the concrete floor is in the same category. Any views on this?

Try asking the tax man
Good luck with that.

 

[grass man]

Try asking the tax man
Good luck with that.

Thought it sounded to good to be true and I'm aware I sign the tax return! They do class themselves as professionals and I hope to get true and proper advice from them

 

[Tarw Coch]

Thought it sounded to good to be true and I'm aware I sign the tax return! They do class themselves as professionals and I hope to get true and proper advice from them

I have posted my accountants view earlier in this thread, that if the intent of using panels is that if they can be moved/removed at times as part of the normal use of the building then they do qualify for tax relief but if they are used for a purpose the same as a permanent wall would be used without any reasonable expectation of being moved then they don’t.
Sounds like a fair and reasonable explanation to me allthough it’s obvious not all agree.
A tenant farmer on a fixed term tenancy did say earlier that he was comfortable claiming tax relief on wall panels on the basis that they were removable at the end of the tenancy, my accountant didn’t mention that scenario to me, probably as it doesn’t apply to me but again it sounds reasonable.

We can all make up an argument to justify what we want to, I think the key is is that argument reasonable, if it is you’re probably ok but if you’re stretching the argument you may well get challenged, I think claiming the floor of the shed as it’s needed to support the panels is definitely stretching things.

Of course, you can claim on the lot and if no one picks up on it that’s great but the fact that you get away with it doesn’t necessarily mean it’s right. The danger comes when someone gets away with doing something they shouldn’t have and tells others it’s ok, bottom line is you need to check things out for yourself and, it would seem even accountants don’t agree on just how far you can go.

 

[organicguy]

My account says that panels around the outside of the shed are not allowable but ones inside the shed, which divide it up, are!

 

[dannewhouse]

just shows how clear they are with the number of differing opinions, I know its how fare you dare bend the rules …

if you don't get planning its definitely repairing isn't it?!?!

 

[Case290]

What about if you’ve bought the panels to spilt up a shed but there not fitted as it’s one of the jobs didn’t quite get to.

 

[Paul E]

What about if you’ve bought the panels to spilt up a shed but there not fitted as it’s one of the jobs didn’t quite get to.

Depends what it says on the invoice.

 

[mo!]

The latest ruling on grain stores/"silos" as plant i.e. 100% deductible puts a while new slant on this discussion.

 

[Try to succeed]

The latest ruling on grain stores/"silos" as plant i.e. 100% deductible puts a while new slant on this discussion.

I’m led to believe that is the case if you can prove it is a ‘system’. So I’m building a store atm with pipes integrated into floor for fans on outside, and this qualifies 100%. However if it was just a concrete floor that isn’t a ‘conditioning system’ it wouldn’t qualify. I might be wrong though.

 

[Try to succeed]

 

[mo!]

I’m led to believe that is the case if you can prove it is a ‘system’. So I’m building a store atm with pipes integrated into floor for fans on outside, and this qualifies 100%. However if it was just a concrete floor that isn’t a ‘conditioning system’ it wouldn’t qualify. I might be wrong though.

It's worth looking up the ruling. The silo was a concrete floor with movable pedestals...

 

[Try to succeed]

It's worth looking up the ruling. The silo was a concrete floor with movable pedestals...

I stand corrected. Even better for everyone then!

 

[mo!]

I stand corrected. Even better for everyone then!

I recommend reading through the document, I think HMRC got royally done over. The floodgates will open! We are building a cattlehandling shed and will be applying for the shed as plant based on the ruling.

 

[Try to succeed]

I recommend reading through the document, I think HMRC got royally done over. The floodgates will open! We are building a cattlehandling shed and will be applying for the shed as plant based on the ruling.

I’ll have a read of it when I’m caught up with everything. Sounds like it’ll be a satisfying read, that’s for sure. I didn’t go looking for it as brought it up with accountant after hearing about it and got thumbs up.
What about including concrete apron outside; is that pushing it too far?

 

[Hfd Cattle]

For what it's worth ....we bought some concrete panels about three years ago because they were seconds and they were cheap. They were sat in the yard and not installed and we therefore could claim against tax. Acc said if we had installed them then it would be different unless they were only bolted not concreted.He went on to use a farmgate as an example. In the strictest of terms an inspector could look at a farm gate and if it is installed in such a way as you cannot lift it off ,i.e. welded to hinge s etc,then it is not tax reclaimable. If you can lift it off the hinges then it is. He said its the same with buildings ...if you can unbolt the building or any fixture inside it and take it away then you can claim it against tax. As earlier post that is why many buildings are bolted above ground so that tenants can remove at end of tenancy.
Secondly ... we pay an insurance every year so that if our accountant gets something wrong and a tax inspection comes down hard then we are covered for liabilities even though we have signed the accounts off . We only sign off our accounts on the accountants advice. If that advice is wrong then he is liable .

 

[Case290]

New concrete feed barriers ? Is every thing on 100% tax relief as long as they can be moved / lifted.
What about a straights store which is split every bay as that’s a Pacific job for temporary storage purposes. My accountant says new Buildings are 2% not 100%

 

[Try to succeed]

New concrete feed barriers ? Is every thing on 100% tax relief as long as they can be moved / lifted.
What about a straights store which is split every bay as that’s a Pacific job for temporary storage purposes. My accountant says new Buildings are 2% not 100%

This new case has taken precedent. Has your accountant seen it?