Capital Allowances are a statutory tax relief that can reduce the tax that companies, businesses and individuals have to pay on their annual profits.
It is, in effect, an allowance for buying new equipment. However, the opportunity to use this relief is under used and often completely missed.
Capital Allowances are available to sole traders, self-employed persons or partnerships, as well as companies and organisations liable for Corporation Tax.
Property is the biggest capital investment a business is ever likely to make and historically where allowances are most often under utilised. Maximising a claim for Capital Allowances is essential in order to reduce your tax liability and an incomplete Capital Allowance claim will result in a higher tax bill.
Talk to our team of specialists today. We can advise you on planned expenditure to ensure that Capital Allowances are maximised before you have even spent a penny. We can also help you maximise the Capital Allowances claim on any future plans you may have for new premises or refurbishments, whilst reviewing your previous expenditure to make sure everything has been correctly claimed or categorised.