Capital Allowances are a tricky beast to get your head around. At first look they seem counter-intuitive like the commercial property owner is double-dipping and abusing a gaping wide loophole in the tax system. That is of course, not true. Capital Allowances have been on the statute book since 1878 and have been through several iterations since then.
Capital Allowances incentivize a commercial property owner to improve their property. To make it for purpose and worthy of their business. It gives the owner an allowance to put against their tax bill. That makes sense. I have spent capital so therefore I am allowed a capital allowance. So far so good.
Not what about the fixtures and fitting already present in the building? The stuff that has been screwed in, nailed in, bricked in, and plastered in. What if you could claim for items that were a feature of the property already? You can. If it qualifies for an allowance and it has not been claimed for then there is a potential refund or relief to be gained.
We also mustn’t forget improvement work, extensions, and refurbishments. It’s all good stuff and these pieces of work come with allowances as well.
Within a commercial property valued at £750,000, there may be as much as £240,000 in unclaimed Capital Allowances. For a property owned by an individual that equates to a tax refund or future saving of as much as £96,000.
We are The Property Tax Refund Centre. We help commercial property owners claim back tax, or get a saving on a future tax bill by uncovering allowances for improvements they’ve made to their property and fixtures and fittings which are already there.
If you would like to find out more contact us in the usual way…it’s found money waiting to be uncovered…
How do I get started?
Just contact us however you feel most comfortable and we will be in touch to get the ball rolling.