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refunds@hmatax.co.uk

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Do I Qualify?

HMA Tax   →  Do I Qualify?

Do I Qualify?

Claiming Embedded Capital Allowances

Qualifying for Embedded Capital Allowances tax relief is simple, as long as you;

  • Own a Commercial Property
  • Pay Tax in the UK
  • Your property isn’t in a pension fund – you can claim.

Select your property type from the grid below to learn more and see what you could be missing out on.

Do your Clients own property?

If you are an Accountant, Solicitor, Estate Agent or Commercial Finance Broker we have a dedicated area of our website detailing how we can work together to help your clients.

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What are Embedded Capital Allowances?

When you buy long-term assets for your business such as property you cannot claim the expenditure for your Profit and Loss Account. However based on the expenditure you may be able to claim Capital Allowances in accordance with The Capital Allowances Act 2001.

Capital Allowances provide tax relief to deduct the cost of certain assets from taxable profits. This relief is generated by claims following capital expenditure on commercial property.

  • Purchase of an old or newly built property
  • Construction of a new property
  • Building alterations, extensions and refurbishments to a property
  • The fit out of let property

Capital Allowances are available for all individuals and businesses that are UK taxpayers. The relief can be as much as 40% of the cost of a property and higher for alterations, extensions and refurbishment and, if you bought or undertook that expenditure in the last two years may well be all immediately available.