Planning to carry out new construction, refurbishments, fit out works, or buy property or equipment for your business?
The best way to save money on renovations is to pay less tax through capital allowances.
We can help you claim tax relief, tax credit or a cash refund to improve business cash flow.
Our technical experts and tax specialists will help you identify all qualifiable assets while you focus on what you do best.
Thank you for your request, we will get in touch with you soon!
Depreciation of fixed assets charged in the accounts is not allowable in computing taxable profits. Instead, the UK government introduced capital allowances which is a form of tax relief that allows businesses which pay tax in the UK to deduct from their taxable profit (before calculating their tax liability), the value of their qualifying capital expenditure on assets such as equipment or buildings.
Despite constant changes both historically and recently, capital allowances as we know it today is based on the system introduced in Income Tax Act 1945, to incentivise the reconstruction of British industry after the second world war. The current legislative framework for claiming capital allowances in contained in the Capital allowances Act 2001. Understanding case law precedents and HMRC guidance is also key in identifying qualifying expenditure.
Capital allowances can be claimed not only by companies, but also partnerships, individuals and overseas investors which carry out qualifying business activities such as a trade, property business, furnished holiday let, etc.
Capital allowances calculator
Estimate of allowances :
Estimate of tax savings :
Exploring availability of tax relief.
Confirming scope and establishing entitlement to claim.
Surveying the assets where necessary
Identifying qualifying expenditure.
Preparing and issuing claim report
Assisting with filing and post-filing information
Our capital allowances team of qualified specialists with diverse experience and multidisciplinary construction and financial skills, leverage on their expertise to maximise cash saving benefits for businesses who incur capital expenditure.
We provide a whole development lifecycle capital allowances advice from planning to design, construction, occupation and subsequent disposal or sale. This includes property sale and purchase transaction advise to support either the vendor to retain their capital allowances, or for the buyer to benefit from capital allowances on the purchase price paid.