Why isn't there any capital allowance on buildings?

Nearly

Member
Location
North of York
We built a shed in 90's. Large % was silage clamp, lots of gates and feed barriers. Rest was depreciated for 10 years at 4% until we sold it with 20 acres.
IR tried to claim we'd made a profit on the shed rather than on the land but we proved otherwise.
No depreciation on sheds could be our fault, sorry. ;)
 

Honest john

Member
Location
Fenland
I think G Brown was silly to end the 4% relief.

So now we make as much as poss removeable & get 100% on some of it.

Electricals, Doors, Panels, drying floor. Fans, ducting, etc etc.

But still can't get to 100% as we could before.
 

Nearly

Member
Location
North of York
I think G Brown was silly to end the 4% relief.

So now we make as much as poss removeable & get 100% on some of it.

Electricals, Doors, Panels, drying floor. Fans, ducting, etc etc.

But still can't get to 100% as we could before.
Could still get 100% on plant before, then 4% on umberella. But before that it was 100% on all.
 

Wooly

Member
Mixed Farmer
Location
Romney Marsh
Could a slatted shed go down as a slurry store? Or at least the cost of the tank and slats?


Manure stores are tax deductible, so the answer would be yes.


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.

There is a grey area on this. You must stipulate at the time of the quote that you want to have it made so that it is easily movable.


More likely to be approved if you are a Tenant farmer on a short term rent agreement.

The reality is that the shed is cheap......but all the movable internal fixtures are expensive ! ;)

Break down the labour requirement out of the quote and then all the plant hire costs. Soon it results in quite a tax deductible new building.:whistle:
 

GTB

Never Forgotten
Honorary Member
More likely to be approved if you are a Tenant farmer on a short term rent agreement.
This would be the case in my neighbour's situation and the building is genuinely removable. The stanchions are bolted down with the nuts still visible unlike most buildings where the nuts are under the wall foundations somewhere never to be seen again. So it can be done. (y)
 

Honest john

Member
Location
Fenland
thats true, but a £100000 tractor will also provide much gainfull employment for fitters, might put a lot more into the local economy than a shed:(

Well one would hope you are wrong.
But sadly occasionally right.
I still think UK industry would have done better under the old 4%. Nearly all uk labour & kit & concrete goes into buildings.
Where's with machinery it's nearly all imports these days.
 

spikeislander

Member
Location
bedfordshire
thats true, but a £100000 tractor will also provide much gainfull employment for fitters, might put a lot more into the local economy than a shed:(
its a point but I still think a 1000- 1200 tonne grain store at approx £80k all in with concrete, built here etc will leave more money in the uk than a tractor of the same value ie jd , agco etc who all reside in other countries.
 

bert

Member
Mixed Farmer
Location
n.yorks
The way they are thinking at the moment they are more likely to put business rates on the existing sheds than give us more tax relief
 

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Red Tractor drops launch of green farming scheme amid anger from farmers

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As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
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