Capital allowances specialists
Looking to make tax savings from your property expenditure? You need to get to grips with capital allowances. But understanding the changing rates and how to maximise them is a time-consuming and relentless task. From identifying qualifying plant and machinery elements (heating, electrics, fittings) to applying the correct level for the type of project (commercial construction, alterations, refurbishments), there’s a host of factors to take into account.
That’s why our specialist team make capital allowances their focus, combining skills in tax and property to prepare claims that will generate the greatest possible savings in the least possible time. Completed the project? No problem. We frequently make retrospective claims.
Whatever the size of your business, we can help. Here’s some of the ways we support our clients every day:
- Capital allowances claims for major new builds, extensions and refurbishments. Big projects often suffer from a lack of cost information from contractors, meaning valuable allowances are missed. We can produce detailed and effective capital allowances claims, even where no cost information exists.
- Capital allowances claims for property acquisitions. The price of a property will partly depend on its qualifying assets; but by advising on elections in contracts and preparing specialist tax valuations, we can often “unlock” the qualifying element from the purchase price.
- Support with conveyancing to make sure entitlement issues are addressed. Thanks to further tightening of tax legislation, capital allowances can be permanently lost if contracts do not include appropriate elections or clauses. We make sure our clients’ capital allowances are safe.
- Capital allowances claims for the purchase and renovation of Furnished Holiday Lets, ensuring our clients shelter taxable rental income.
- Land Remediation claims for expenditure on cleaning up contaminated land and buildings.
- Dealing with HMRC enquiries into capital allowances claims.
Of course, your business and needs are unique, so get in touch to discuss how we can help today.