Capital Allowances for Commercial PropertyCapital allowances are a valuable form of tax relief available to anyone incurring capital expenditure buying or building commercial property. As a business you can claim tax allowances, referred to as capital allowances, on certain purchases or investments. This means you can deduct a proportion of these costs from your taxable profits and reduce your tax bill. Capital allowances are available when one of the following reasons is appropriate;
Capital allowances are available for two main reasons. Firstly, accounting depreciation is not an allowable deduction for tax purposes. However, capital allowances are available instead to give a tax deduction under rules set out by Government. This is the reason that capital allowances are also referred to as tax depreciation. Secondly, because capital allowances provide valuable tax breaks, the capital allowances system is used to provide incentives to invest in commercially and economically desirable assets. Capital Allowance AccountingCapital allowances are a right not a privilege. It can be most simply viewed as a reduction in the purchase price of the assets. Capital allowances will significantly boost the post-tax yield on an investment. In short, capital allowances are an entitlement; if you have incurred the expenditure you deserve the tax benefit. CA Tax Solutions have the necessary experience, knowledge, and skills to guarantee that your capital allowance accounting is done correctly, giving you the greatest benefit. For further information, help and advice please click the links below: Capital Allowance Advice |
“We claimed the capital allowance back on two of our properties, both proved to be a massive success.
|
Quick Links:
|
Company Number 06762322 |
