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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.
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.