Capital allowances are a form of tax relief which the Government allows individuals, partnerships and companies to claim against their trading profits.
The intention of the capital allowances regime is to encourage investment and stimulate growth by giving tax relief for the reduction in value of qualifying assets that are purchased and owned for use in a business.
For most types of expenditure incurred by a business, the identification of assets qualifying for capital allowances and the application of the tax legislation relating to capital allowances can be seen as relatively straightforward.
When it comes to considering capital allowances available for expenditure incurred on a property, whether on a building for owner occupation or an investment property for letting, our skilled team are highly experienced in maximising claims on behalf of clients.
The legislation is complicated and requires an understanding not only of tax but also a detailed knowledge of property. Our team have built up this experience over a number of years and utilising our in-house VAT, wider tax team and property & construction team, we ensure our clients receive what they are entitled to.