Capital
Allowances
Capital Allowances are a way of obtaining tax relief on some types of capital expenditure, we can
review your capital expenditure to ensure you maximised the tax reliefs available.
Our Services
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Capital Allowances
What are
Capital Allowances?
Capital Allowances are a mechanism to reduce tax paid by businesses through the ‘depreciation’ of expenditure incurred on certain business assets, such as buying, building, refurbishing or extending property. Any commercial building (not residential, excepting communal areas) has the potential for a capital allowances claim, whether it’s freehold or leasehold and there are no time limits.
In order to benefit from capital allowances a business must have incurred capital expenditure and have a UK tax liability against which to offset the allowances. Almost all building activity can trigger an entitlement to capital allowances including acquisitions, disposals, developments, extensions, refurbishments, fit-outs and any other form of property capital expenditure.
A claim for capital allowances can be made whether the building is new and sometimes irrespective of whether allowances have been claimed by the previous owner or not.
Are You Eligible?
There are 4 simple questions you can ask yourself to find out if you could be eligible.
Are you subject to UK corporation or income tax?
Is the property/ asset in the UK?
Is the property commercial or a communal area in a residential building?
Do you hold the property/asset as an investment on capital account?
Our Range of Services
Stamp Duty
Land Tax
We assist in reviewing both upcoming and historical property transactions to ensure the correct SDLT consideration is applied.
Research
& Development
We work with companies to identify R&D activity and submit successful claims.
Land Remediation
Relief
We analyse land purchased that has been contaminated and advise on any costs reclaimable.
Pensions
We can assess your property pension portfolio to ensure the correct SDLT consideration was applied.
Property
Incorporation
We can help to structure your property portfolio correctly which can potentially result in significant tax savings.
Enquire Today!
We’re well positioned to help with any of your tax enquiries, call or email the team to find out more.
Call Us 0121 309 0222