s198/199 Considerations – Hypertech Partnership

Ensuring Compliance with s198/199

Under s198/199 of the Capital Allowances Act 2001, Commercial Property Solicitors must address the tax implications of transactions, particularly concerning fixtures and fittings. Failure to properly complete these forms can lead to litigation risks and lost tax savings for clients.

Key Considerations

Accurate Completion of s198/199: Critical to avoid tax relief losses for buyers and sellers.
Review of Vendor’s Claims: Ensuring all qualifying capital expenditure is identified.
Proper Drafting of Elections: s198 elections must cover all relevant items.
Thorough CPSE Review: Replies must provide adequate detail and confirmations.

Risks of Inaccurate Reporting

Forms with values like £0, £1, or blanks risk losing Capital Allowances, affecting current and future property owners and potentially reducing market value.

HyperTech provides specialist advice to ensure compliance, maximise tax savings, and protect clients’ investments. Partner with us to navigate the complexities of s198/199 and deliver top-tier service to your clients.

You could be entitled to thousands of pounds in unrealised tax savings

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Ensuring Compliance with s198/199

Key Considerations

Risks of Inaccurate Reporting

You could be entitled to thousands of pounds in unrealised tax savings

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