When businesses suffer catastrophic blows to their cashflow, as many are
experiencing now, it is important to explore every opportunity there is to
Claiming capital allowances provides such an opportunity.
Amending Tax Returns to Claim
Historic Expenditure and Reduce Tax Payable Now
Reducing tax bills is an easy way to retain cash and it is vitally
important now to maximise […]
The Chancellor, Rishi Sunak’s ‘get it done’ approach did not really extend to capital allowances. There was a modest lift to Structures and Buildings Allowances.
The capital allowances changes are below:
The Structures and Buildings Allowances was introduced in Finance Act 2019 to encourage the construction of new or renovation of existing non-residential structures and buildings. […]Read more
Since April 2017 there have been restrictions for deducting interest where bank interest exceeds £2m/annum. This makes the full claiming of allowances for UK entities even more important.
From April 2019 overseas owners of UK commercial properties are subject to CGT and from April 2020, all non-resident landlords will be subject to corporation tax.
This webinar aims […]Read more
There were some significant and surprisingly positive changes to capital allowances. Up until this Budget, Mr Hammond has been about as useful as a chocolate teapot for investment allowances. Assuming that the present Government remains in power and Finance Bill 2019 is enacted there will be some positive outcomes for capital investment in the UK.
The […]Read more
Retail sector owners are often overlooking substantial tax allowances. This happens because their accountants and tax advisors may only pick up simple & obvious plant and machinery (P&M) items, such as chairs, tables, shop display and fittings. When fitting out or refurbishing a retail unit, the construction expenditure is generally not very well detailed for capital […]Read more
‘Free’ £10,000 and extra tax savings for SMEs investing in green technologies
In the current economic climate, a significant external pressure on UK businesses is to reduce their “carbon footprint”. While implementation of new processes and sustainable equipment may be easier for large organisations with bigger budgets, Small and Medium Sized Enterprises (SMEs) may struggle […]Read more
Both owners and occupiers of office buildings can claim substantial capital allowances but this opportunity is often missed. This can be due to confusion over the recent April 2014 capital allowances rules changes or because non-specialist solicitors, accountants and tax advisors do not recognise the full potential of available allowances. Frequently, construction cost information can […]Read more
Substantial capital allowances are available on the construction of data centres. Up to 90% of expenditure on new build date centres, or higher, can potentially qualify for capital allowances. The reason for this high level of allowances is that the buildings are normally quite simple enclosures containing vast amounts of mechanical and electrical plant.
Types of […]Read more