DAVIS LANGDON

The 2008 changes to the UK Capital Allowances system have placed much greater emphasis on the Enhanced Capital Allowances scheme – offering 100% first year relief on qualifying energy efficient equipment - a much more attractive incentive than the 10% writing down allowance given on non qualifying assets. Energy and water saving equipment could well become a much more significant business cost over the next decade with supply prices expected to rise and the Carbon Reduction Commitment Energy Efficiency Scheme (CRC) adding the cost of Carbon Allowances for many medium to large organisations. Tax relief and energy performance are set to become more closely entwined and Davis Langdon is developing a suite of services to reflect this. Our Carbon Assessor software will be providing the management tool for emissions reductions closely relating to our tax relief capability. The Banking Team helps organisations improve their performance through effective risk and financial management.

Offering solutions in the areas of real estate and infrastructure funding and development. We act as an interface between funders and the development team, to mitigate funding risks associated with delivering projects on time, to budget and to the correct quality. The VAT legislation relating to construction projects and property transactions has evolved into a highly complex system and a sound knowledge of the interaction and impact of numerous rules is required to avoid the risk of costly errors. The law has been subject to many changes made by HM Revenue & Customs to counter avoidance and must be interpreted in the light of the decisions of the VAT Tribunal and the European Court of Justice.

Residential and some charitable buildings benefit from zero-rating and a reduced rate can apply to certain renovation and conversion projects. The supply of other construction services will generally be standard rated.