Caravan Parks

CAPITAL ALLOWANCES AND THE CARAVAN PARK TRADE

Christopher Perry takes a fresh look at this long-standing relief

In these remarkable days when man can put a man on the moon, extract DNA from a human embryo or send an e-mail through a hearing aid it seems quite remarkable how often we find that a fundamental tax relief is overlooked.

The use of capital allowances for the purposes of reducing tax liabilities has been around for a very long time. So much so that we may have become complacent to the uses and availability of the relief when considering the fundamental principles involved and how they may be extended to a variety of capital expenditure which may not, at first sight, be obvious.