IN PRACTICE: NEGOTIATING TRANSFER VALUES

摘要

When a commercial building changes hands, the parties should enter into a joint s198 election, to fix a transfer value for the allowances. In this example, care home owner Robin Roopun was in the process of buying two care homes. The vendor issued an election to fix the capital allowance value at £1 in the new buildings. But Roopun's solicitors were unable to advise him and the vendors solicitors told him it was £1 or forget the deal.