Since April 2014, there have been complex new rules governing the availability of capital allowances on the purchase of existing buildings. Known as the 'new fixtures rules' (NFRs), the legislation is contained within sections 187A and 187B of the Capital Allowances
Act 2001 (CAA 2001), by virtue of section 43 and Schedule 10 of the Finance Act 2012.
The commercial property standard enquiries (CPSE 1 v3.5) now deal with capital allowances under clause 32 (previously clause 19) and include a request for the contact details of each party's capital allowances advisers. This alone should be a red flag to those involved (including their advisers) that the matter has become considerably more complex than it was pre-...
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