Considering claiming capital allowances? Don’t make it the last job you do.
Capital allowances are a key mechanism the government uses to support companies investing in commercial property.
If purchasing commercial property or making capital improvements its vital to be aware of what tax relief is available.
Act now – Maximise the Annual Investment Allowance
The Annual Investment Allowance (AIA) was first introduced in 2008 and sets out to give 100% first year tax relief for qualifying expenditure. It can be claimed by an individual, partnership or company.
Currently there is an Annual Investment Allowance of £1,000,000 available each year on investment on qualifying assets. The Annual Investment Allowances is particularly generous at the moment, contact us to discuss how to maximise it before it is too late.
By claiming 100% of the cost of qualifying assets in the year that the expenditure was incurred, £1,000,000 is written off against taxable profits, giving tax saving in year 1 of £190,000 (assuming current corporation tax rate). If this expenditure was reviewed retrospectively and it falls into the capital allowances pools, the saving would be in region of £15,000.
Who can claim
Whether you own a small commercial shop to an entire shopping centre – the same rules apply to everyone. What we are passionate about is uncovering value for you and your business.
We recognise that sometimes what can look like the small savings can make the biggest difference that’s why we enjoy working with small businesses to educate on this legislation and tax relief.
Small and Medium Enterprises (SME)
We work with SME clients across the UK to identify all capital allowances for industrial and manufacturing spaces that are held as Freehold Assets. We have uncovered hundreds of thousands of pounds of historical tax relief for our clients.
Occupiers
If you are fitting out an office or factory space we can carry out a detailed analysis of the construction fit out expenditure. This can result in up to 80% of expenditure being eligible for tax relief. We can also work closely with Research and Development specialist companies to identify Research and Development Allowances (RDAs) on your capital spend.
Families
It’s never too late to claim, we have worked with families to carry out historical reviews of their commercial property, purchased up to 20 years ago. This can result in tax savings to owners on the acquisition costs of up to tens of thousands of pounds.
Accreditations
