Sports and spectator stadiums have featured quite prominently in capital allowances over the last 40 years. This came about as a result of the Taylor report, which after 1993 resulted in the development and refurbishment of all of sports stadiums throughout the country. Following this, sports and spectator venues became more comprehensive and detailed in the design and safety than the properties developed in the early 1900s. Instead of being terraces of concrete with floodlighting, today’s stadiums now include stands, catering and hospitality facilities along with additional crowd safety and supporter’s facilities, giving rise to higher levels of qualifying plant and machinery.
Over the same time period, we have also seen gyms and health clubs become more popular. These facilities not only include fitness equipment but also significant mechanical and electrical installations. More sophisticated facilities also provide bar, restaurants, cafe and function suites; all with high levels of plant and machinery.
As an owner occupier or investor in sports venues you may missing out on valuable tax relief. For further information on how Cavetta Consulting can help you download the attached brochure.