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Capital Allowances – Overview

Capital allowances are a valuable form of tax relief available for expenditure incurred in the buying or construction of commercial property. They are an uncontroversial tax relief that effectively converts capital expenditure into tax-deductible trading expenses for income or corporation tax purposes. Put another way, they are a Treasury funded discount on the cost of property.

Our experience indicates that in many cases capital allowances are under utilised and, as a consequence, are often under claimed. The importance of maximising capital allowances for integral plant and machinery in buildings has become increasingly important as an effective means of reducing the tax liability and obtaining tax refunds in the case of historic expenditure. Ensuring an entitlement to claim and maximisation of capital allowances available for different properties requires a specialist approach and a unique combination of skills.

Cost Care is a long established capital allowance specialist providing tax solutions to commercial property owners since 2000. With a proven track record of providing capital allowance support to professional introducers across all sectors of the commercial property marketplace, we have a client base in excess of 20,000.

Cost Care have the necessary pre-requisite knowledge, experience and expertise required to in order to meet the constantly evolving demands of capital allowance legislation and are particularly skilled in successfully identifying capital allowances for historical expenditure – a retrospective claim can result in a significant cash benefit from HMRC.

In view of recent changes to the capital allowance regime the taxpayer is strongly advised to consider obtaining an early capital allowances review for any commercial property acquisition.