Understanding Capital Allowances.
If you own commercial property, whether in a limited Company or personally, and have not claimed any Capital Allowances, there may be an opportunity to undertake a review which could significantly reduce your tax liability.
Capital Allowances are available on capital expenditure incurred on the construction, renovation or refurbishment of a property and also on the acquisition of a property.
All commercial property owners should consider whether Capital Allowances are applicable. Even if the capital expenditure was incurred a number of years ago and there is limited information available, this will not prohibit our experienced specialists undertaking a review to establish the validity of a potential claim.
- Establishing an entitlement to claim through a due diligence exercise based on financial and legal documents.
- Preparing 'Just & Reasonable' claims on historic capital expenditure in instances where information is limited.
- Undertaking reviews of 'Direct Expenditure' incurred by clients. This routinely involves linking in with relevant stakeholders such as quantity surveyors, engineers and architects.
- Integrating the tax saving derived from Capital Allowances into capital expenditure forecasting, in turn allowing clients to understand the after-tax cost of assets when preparing capital budgets.
- Tax advisory services to help clients utilise Capital Allowances in the most efficient manner.