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  • ECA Two in one out

    Enhanced Capital Allowances (ECA) Two in one out

    The 2014 Budget, presented on 19th March 2014, included some changes to the ECA Scheme for energy-saving technologies. These changes, having gone live on 7th August 2014, will affect the current composition of the Energy Technology List. Two new technologies have been added to the list - Active Chilled Beams and Desiccant Air Dryers with Energy Saving Controls. One additional change, which may have gone unnoticed, relates to variable refrigerant flow (VRF) air conditioning systems, a technology invented in Japan by the Daikin Company in 1982, which circulate the refrigerant within the building multiple fan coil units (FCUs) by use of outdoor condensing units. Before August this year, the ETL website provided a facility to enter the respective model numbers of both the condenser units and the FCUs to which they were linked, to establish whether the said combinations qualified for ECA. From now onwards, these VRF systems are no longer listed. Instead purchasers must now obtain a written statement from their supplier who must confirm that the installation meets the eligibility criteria in force at the time of the supporting evidence for the purchaser's ECA claim. The previous regime will still apply to any installations prior to 7th August 2014. To discuss the impact of these changes to your business please contact:- Andy White Director Direct +44(0)207 0617153 andy.white@aecom.com

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  • Financial calculator

    Updated Guide for Accountants to Capital Allowances for Fixtures

    The changes to the rules for claiming capital allowances on second-hand plant and machinery fixtures, brought in by the Finance Act 2012, have a significant impact on property buyers. Whilst property sellers will not suffer directly from the new rules, there will be consequences for all businesses incurring expenditure on fixtures within commercial property. In this guide we look at how accountants can ensure that their clients are not adversely affected by these changes and even add value by spotting the opportunities that will arise.

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  • Property Agent

    The Property Agent and Capital Allowances on Property Acquisitions

    The Property agent will be the first consultant that a buyer contacts on any property acquisition and therefore the agent is uniquely placed to kick-start the due diligence process for capital allowances.

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  • The Law

    Updated Guide for Solicitors to Capital Allowances for Fixtures

    The changes to the rules for claiming capital allowances on second-hand plant and and machinery fixtures, brought in by the Finance Act 2012, have a significant impact on property buyers. Whilst property sellers will not suffer directly from the new rules, there will be consequences for all businesses incurring expenditure on fixtures within commercial property.

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  • Contract

    The Solicitor and Capital Allowances on Property Acquisitions

    The role of the solicitor should include ensuring that the client is aware of the valuable tax savings that could be available from claiming capital allowances on fixtures. Even though the solicitor may believe that providing advice on capital allowances is outside of the scope of the services provided, it is quite normal for standard commercial property enquiries to include questions dealing with capital allowances.

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