Grace Oliver

Hi Leannet77, if the property was deemed unsafe to occupy and required substantial works - you may be able to make a reclaim of SDLT paid also under the uninhabitable scheme - just a thought!

I have been posed this question today from a Ltd co "we currently operate an FHL business however we are a low profit making company. If i claim capital allowances i will increase that loss. If we sell the property in the future we will generate a gain. Can i use the loss generated from the CA claim to decrease the capital gain, especially in light of the new FHL legislation?"

To confirm, does this mean if businesses make a Capital Allowances claim under the FHL criteria, they will be able to claim in full and write down all allowances, providing the claim is submitted before April 2025? Does this also mean for say a claim for YE 5th April 2025, could be made in full and AIA claimed if appropriate? Additionally, by extinguished, does this mean that you can claim up until the allowances have been claimed in full and the pools empty, or is it a case that you can no longer claim at all, even via the pools from April 2025. Example 1: Company A has a 31st December YE and identifies additions to PMAs on their FHL in the YE 31st Dec 2023 of £100k. Can they continue to write down these allowances beyond April 2025 as per standard WDA rules? Is the new legislation essentially saying that any CA additions on FHLs cannot be made from April 2025, but any existing CAs (i.e. additions before April 2025) can continue to be written down as normal? Example 2: if i have a client who started claiming in YE April 2024, but they have WDA's until YE 2026, can they claim the WDA's in 2026, or will the WDA's be restricted to the point in YE 2025? Further to this, do any existing FHL losses created by CAs get carried forward to be offset against future FHL profits beyond April 2025?

Good morning, Are we able to get clarification on the state of Capital Allowances claims for FHLs following the budget announcement? I know we are awaiting draft legislation also, do we have timeframes on this? Will the ability to claim cease in April 2025, and what will happen to those claiming via WDAs?