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Capital Allowances Reviews
If you own commercial property and are subject to UK tax, you are eligible to claim capital allowances on the qualifying fixtures and fittings in your properties. This is regardless of whether you are a landlord or you use the property in your trading business.
If you are in the process of, or considering, purchasing a new commercial property it is highly recommended that you review any capital allowances available at the time of purchase.
What are capital allowances?
Qualifying expenditure can arise on:
- the acquisition of a building;
- the construction of a new building;
- the extension, alteration or refurbishment of an existing building; and
- leasehold improvements to a rented property.
The expenditure can include:
- lighting and electrical systems;
- air conditioning;
- heating; and
- sanitary ware.
Capital Allowances Tax Relief can unearth hidden expenditure in your commercial property.
Many advisors simply analyse and review accounts at a high level, which highlights only the more obvious fixtures and fittings which are eligible for capital allowances. At David Allen we are able to work alongside qualified chartered surveyors to asses the fixtures and fittings within a building and compile a claim for you which turns in to tax savings for you or your business.
We have helped a number of our clients make substantial tax savings across a wide range of businesses such as children’s nurseries, holiday parks, office buildings and B&Bs.
