What are fixtures for capital allowance purposes? What are the consequences of something being a fixture?

This is a freeview 'At a glance' guide to fixtures. 

Fixtures are Plant and machinery which have been installed or fixed in a property (including land) and have become part of the building.

Rates of allowances

Fixtures are subject to different Rates of allowances depending on the type of purchaser, the date of purchase, the proposed use and whether they qualify as:

Any person who is buying or selling a commercial property, or block of flats, should consider whether allowances have been fully claimed on fixtures by previous owners. The new owner of the building will be able to claim any unclaimed allowances providing they can establish the history of previous claims.

Fixtures and SDLT

See:  SDLT: Chattels & Fixtures

Useful guides on this topic

Fixtures: Overview
What are fixtures? How do I claim lost or unclaimed fixtures? When must fixtures be pooled? What is the fixed value requirement?

Seller: should I make an s.198 election to fix the sale price of fixtures? 
This quick guide outlines some advantages and disadvantages of making a joint election with a buyer under section 198 of the Capital Allowances Act 2001 in order to fix the sale price of fixtures when a building is sold.

Buyer: should I elect to fix the purchase price of fixtures? 
This outlines making a joint election with the seller under section 198 of the Capital Allowances Act 2001 in order to fix the sale price of certain fixtures. 

Fixtures case study: lost fixtures
A case study to show property owners and their advisers that they should take a closer look at fixtures and integral features when buying or selling commercial property. You may lose valuable tax relief.


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