Understanding the complexity of capital allowances on buildings is a tricky business. Below you will find details for different building types and different circumstances. If you require consultation on how to reclaim capital costs on buildings through a tax rebate then please contact us today on: +44 (0) 2076 295005 or +44 (0) 7747 608854 Introduction to Capital Allowances on Buildings CA expenditure incurred on certain integral features of buildings attracts the 8% special rate of WDAs (writing down allowance). […]
Understanding whether it is possible to carry forward capital gains tax allowances depends in no smalle measure on the type of capital allowances involved. Annual Investment Allowance (AIA) Most businesses can claim an AIA for expenditure on most plant and machinery, apart from cars. In many cases (depending on the level of expenditure) this may mean it is possible to claim the entire expenditure on qualifying items against this allowance. The maximum AIA had been increased to £500,000 in respect […]
As already mentioned, the starting point is to decide on the accounting date, i.e., the date at the end of the accounting period. Any convenient date can be chosen, e.g., the anniversary when the business commenced or, in a seasonal business, a date when trade is slack and stocks are low. This date can be changed as and when necessary, though whatever date is chosen it is easier to work out the tax payable if the same date is kept […]
All tax relief available is optimised in relation to the assets and expenditure our clients incur on their land & buildings and leasehold improvements.
If you are outfitting commercial properties, capital allowances are a way of gaining tax relief against the value of the capital spent on improving those properties. Capital allowances apply to all properties within the commercial sector and the tax relief that can be gained comes in the form of a percentage rebate or reduction in the size of your tax bill. Capital allowances exist as a government incentive for companies to spend their capital and encourage large scale growth within […]