Why isn't there any capital allowance on buildings?

[spikeislander]

I can't see why the relief that we get on machinery purchases doesn't extend to agricultural buildings? Sometimes buying a machine is a wise move but perhaps a shed would be better.
But possibly we lean towards machinery because of the relief but why isn't it on sheds? They are built in this country so helps employment etc unlike machinery where 90% of money spent goes abroad?
Could we not lobby mps to include buildings?
Or am I missing something?

 

[Northeastfarmer]

Something that's always puzzled me too

 

[Forever Fendt]

I can't see why the relief that we get on machinery purchases doesn't extend to agricultural buildings? Sometimes buying a machine is a wise move but perhaps a shed would be better.
But possibly we lean towards machinery because of the relief but why isn't it on sheds? They are built in this country so helps employment etc unlike machinery where 90% of money spent goes abroad?
Could we not lobby mps to include buildings?
Or am I missing something?

you are missing something

 

[S J H]

You can buy a tractor from Germany, and get 100% tax relief but a British built shed has nothing. I can't understand it either.

 

[Nearly]

They argue that buildings become a long term asset rather than wear out and depreciate.
They wear out but much slower than Fendts and Marshalls.

 

[Forever Fendt]

buy all your free standing movable panels separate ,oh and all those repairs

 

[Flossie]

You need to be building a silage clamp

http://www.rossmartin.co.uk/capital-allowances-75082/293-what-qualifies-as-plant-a-machinery

Not sure how long it needs to stay as one

 

[spikeislander]

I can see that but still think there should be done even if they spread it over a longer period?
I would rather have a few more sheds , less travelling on road, convenience of being able to grow more types of crops plus sheds can be used for other stuff.

 

[RobFZS]

Would it be that sheds can be used for none agri purposes? so people would build them to try and get relief, not much other than farming you can do with a farm machine

Not that i'm saying our tax system is at all rational, but whenever there's a loop hole, someone will jump through it to get something back.

 

[Pan mixer]

We used to get Agricultural buildings allowance until about 10 years ago - it was 4% I think I remember.

They only give tax relief on things that could be sold at your closing down sale I suppose, a heap of rubble not being worth anything much

 

[Northeastfarmer]

You need to be building a silage clamp

http://www.rossmartin.co.uk/capital-allowances-75082/293-what-qualifies-as-plant-a-machinery

Not sure how long it needs to stay as one

An account told me to put it down as a silage clamp

 

[beefandsleep]

Could a slatted shed go down as a slurry store? Or at least the cost of the tank and slats?

 

[Northeastfarmer]

Could a slatted shed go down as a slurry store? Or at least the cost of the tank and slats?

sounds like you're serious

 

[Yorkshire lad]

Be carefull with building a new shed and claiming it as s repair
A local farmer put a new shed up got an invoice to say it was a reroof and new panel walls unfotunstly Hmrc had a look on Google earth and the site was a green feild

 

[Forever Fendt]

I can see that but still think there should be done even if they spread it over a longer period?
I would rather have a few more sheds , less travelling on road, convenience of being able to grow more types of crops plus sheds can be used for other stuff.

1 £m houses

 

[GTB]

A neighbour put up a building on rented ground. It's bolted down and all the walling and internal fittings are removable. I'm pretty sure he claimed capital allowance on the whole lot.

 

[onthehoof]

Would it be that sheds can be used for none agri purposes? so people would build them to try and get relief, not much other than farming you can do with a farm machine

Not that i'm saying our tax system is at all rational, but whenever there's a loop hole, someone will jump through it to get something back.

That's the reason. Plenty of ex grainstores round here now industrial units not to mention recent conversions to houses, while the government and planners may encourage this they're hardly going to pay you to put the building up in the first place.

 

[Northeastfarmer]

A neighbour put up a building on rented ground. It's bolted down and all the walling and internal fittings are removable. I'm pretty sure he claimed capital allowance on the whole lot.

Aren't all modern sheds bolted down and the concrete walls are instantly removable?

 

[spikeislander]

I think you can push it a bit and get the panels through but I think the whole shed might be asking for trouble.

 

[sheepwise]

Could a slatted shed go down as a slurry store? Or at least the cost of the tank and slats?

Yes the slats and all concrete works below.Also for some reason all electrical work.