Capital allowances
Capital allowances are a valuable form of tax relief available for expenditure incurred in the buying or construction of commercial property
Allowances explained
Many businesses are aware of capital allowances for plant and machinery, but fewer realise they can also claim for certain ‘fixtures’ or ‘fixed plant’—items that form part of a building’s structure.
This type of relief is available to any business that owns property, whether it’s used for trade or rental income. Even if the property was constructed or purchased many years ago, these allowances can still be claimed.
Capital allowances can be claimed for the fixtures and fittings, integral within a property when it is purchased. This tax relief is available at either 6%, 18% or 100% depending on the type of fixture.
Our Capital Allowances Services
New Build Projects
We can advise you on the capital allowances process from start to finish. Helping to review cost plans and specifications to ensure qualifying assets are installed through to drafting clauses in lease agreements to ensure the availability of allowances is maximised.
Property Acquisitions
We can guide you through the aquisition process with our due diligence service, to help you obtain your maximum entitlement to capital allowances on assets acquired for your business use or as investments.
Property Refurbishments
We can advise you on the nuances in claiming capital allowances on the refurbishment of your properties including the impact of incidental works, replacement of integral features or revenue deductions for repairs.
Commercial Property Letting
We can assist you with your commercial property transactions by providing services relating to due diligence, entitlement reviews and the preparation of capital allowances valuations.
Contamination and Dereliction
We can assist you assess your expenditure incurred on remediating development or derelict sites to maximise your tax savings through Land Remediation Relief or Derelict Land Relief.
Portfolio Reviews
We offer a free review of your property portfolio expenditure to ensure that your capital allowances are maximised.