Confused about capital allowances ?
Do you own a commercial property?
Are you a UK taxpayer?
If you’ve answered ‘yes’ to both of these questions then we’ll almost certainly be able to secure you a significant tax benefit because of unclaimed capital allowances.
Who qualifies for capital allowances relief?
If you are a UK taxpayer and own a commercial property then there is a very good chance you will be due a sizeable tax benefit as a result of unused capital allowances.
Even though you may have received valuable advice from your accountant, we are specialists in this area with a fully up-to-date understanding of the legislation, and are confident we will be able to secure additional tax benefits on your behalf.
What can I claim for?
Your accountant will claim for you on everyday purchases such as curtains, carpets, fire extinguishers and IT equipment.
However, generally speaking accountants will not drill down to the items where the far more significant costs to a business lie, e.g. cabling, air conditioning, heating systems, lighting, security systems, plant and machinery items.
Specialist capital allowances firms, on the other hand, draw on a far more detailed understanding of capital allowances practice and law and carry out an in-depth forensic survey of the property (or properties) in question.
We will work with you and your accountant to make sure that absolutely every opportunity for capital allowances tax relief has been identified and claimed for.
Will this affect my capital gains tax or reduce the value of my property?
Not at all. When you come to sell your property, the capital gains tax and property value will be unaffected. Capital allowances are a right, not a privilege.
I bought my property 10 years ago. Can I still claim?
Yes, absolutely. Reviewing the property purchase ensures that you don’t miss out on any tax refunds from previous years. It is possible to claim capital allowance in any open tax year
It sounds too good to be true. There must be some hidden costs?
Should we fail to identify at least £50,000* in unclaimed capital allowances for you, then there are no fees for you to pay whatsoever. We work on a ‘no claim, no fee’ basis as we feel it is the fairest way to work with our clients.
*Subject to terms and conditions
Take Advantage of a Little known Tax Rebates
R&D Tax Credits apply to businesses that are liable for Corporation Tax. They can help to reduce a corporation tax bill or can be claimed as a cash sum paid back to a company by HM Revenue & Customs, due to an overpayment of tax. Types of qualifying R&D expenditure are typically staff costs, software, utility bills, and any subcontracted work and materials. These R&D costs can be accelerated up to 230%. To see more about this little known tax rebate go to the R & D – tax reclaim page.
Karen is passionate about assisting businesses to their full potential. She has a wealth of experience in offering businesses options with regard to growing their business and focusses on their specific needs. Her positivity, support and knowledge is second to none. I have also worked with Karen on numerous business events and her enthusiasm is infectious.Michelle Lewis
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