Fixtures are plant and machinery which is installed or fixed in a building and as a result have become part of the fabric of the building.
They are subject to some special rules for capital allowances purposes, because legally they become part of the property and cannot normally be separated from it.
Fixtures which are classed as Integral features are subject to further special rules and rates of capital allowances.
Anyone who is buying or selling a property should consider whether allowances have been fully claimed on fixtures. The owner of the building will be able to claim any unclaimed allowances providing he can establish the history of previous claims.
Confusing?
Yes, but read this case study to see how this all works in practice.
