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BUSINESS PROPERTY INVESTORS FACE TAX BLOW

BUSINESS PROPERTY INVESTORS FACE TAX BLOW

Published: 24/02/2014

An imminent and little-known change in the tax law could cause the loss of hundreds of millions of pounds to commercial property owners.

From April, the new owners of a building can claim the tax relief on their spending on plant equipment and machinery only in the first two years of ownership.

Thereby, thousands of property owners may miss out on millions of pounds in tax relief.

Many investors and owners were unaware of the change, but anyone buying a property after April will need to make sure they are asking the right questions about what capital allowances are still available.