Election—capital allowances apportionment on sale of land—CAA 2001, s 198

Copyright © 2025 LexisNexis
Produced in partnership with Steven Bone of Gateley
Precedents

Election—capital allowances apportionment on sale of land—CAA 2001, s 198

Copyright © 2025 LexisNexis

Produced in partnership with Steven Bone of Gateley

Precedents
imgtext

[Date]

[Transferor's name and Unique Taxpayer Reference (UTR)]

[Transferee's name and UTR]

Election to apportion the price of fixtures under section 198 of the Capital Allowances Act 2001

Notice is hereby given of an election made under section 198 of the Capital Allowances Act 2001 (CAA 2001).

This election is made jointly by [name of transferor], as transferor (the Transferor), whose Unique Taxpayer Reference is [UTR] and [name of transferee], as transferee (the Transferee) whose Unique Taxpayer Reference is [UTR] in respect of the property known as [details of property and the address] with HM Land Registry title number [title number] (the Property).

The Transferee has acquired the [freehold OR leasehold]

Steven Bone
Steven Bone

Director, Gateley Legal

Steven is a tax-qualified chartered surveyor. He has specialised in capital allowances for more than 25 years, and more recently land remediation relief and R&D tax incentives. 

In his role as director at Gateley Capitus, Steven works with businesses that are buying, building or refurbishing commercial property, cleaning-up contaminated land and buildings or undertaking R&D activity to help them pay the right amount of tax by optimising the tax reliefs available to them.

Prior to joining Gateley Capitus, Steven held senior roles in the Big 4, specialist boutique and national mid-tier accountancy firms. He is a fellow of the Royal Institution of Chartered Surveyors (RICS) and the Association of Taxation Technicians.

Alongside daily practice, Steven is a tax incentives writer and speaker for property investment and innovation activity. 

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Apportionment definition
What does Apportionment mean?

The division of the cost of any contaminated land remediation action between two or more appropriate persons, after any exclusions have been applied.

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