When buying or selling a commercial property, it’s important to be aware of any potential embedded capital allowances, as you may be missing out or forgoing thousands of pounds of tax relief.
Capital Allowances continue to be an essential part of Property Developers tax planning. With 2020 firmly behind us, we look ahead to 2021, which we expect to be our most exciting and busiest year to date.
Embedded Capital Allowance claims can provide commercial property owners with up to half of their property cost in valuable tax relief, but what are they and how do they work?
Claiming Embedded Capital Allowances is simple, straightforward and stress-free. Our expert team work hard to ensure that you receive the tax relief you are entitled to in a way that requires very little input from our clients.
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for specific tax purposes. This begs the question, how can commercial property owners benefit from having a FHL?
Whilst we always state the importance of commercial property owners making a Capital Allowance claim on their property, owners must be aware of the different types of Capital Allowances in order to make a successful claim.
If you're a landlord, you'll likely be aware of the benefits of a commercial to residential conversion, and may be considering this option for your property. If this is the case, action must be taken in order to avoid missing out on substantial tax relief in the form of Capital Allowances.
There was a lot to celebrate at the Arctic Spas headquarters recently as owner David Martin was able to claim back thousands of pounds in tax relief on his Arctic Spas showroom.
Veterinary surgery owners may be interested to know that they have the potential to claim tax refunds on items within their property, also known as Capital Allowances, and are based upon items that are considered part of the commercial building.
It is a little known fact that commercial property owners can claim thousands of pounds in tax relief from their property in the form of Embedded Capital Allowances.
Dentists are becoming increasingly aware of their right to claim Embedded Capital Allowances on their properties and the sizeable tax refunds such claims can return.
As Capital Allowance specialists, we look forward to meeting as many commercial property owners as possible, which is why we always take the opportunity to attend exhibitions.
The festive period is a good time for your clients to boost the income from holiday properties. If these qualify as furnished holiday lets, they attract favourable tax treatment, but how can you advise clients that fall just short of the qualifying conditions?
A Shropshire based business owner had a lot to celebrate recently as they were able to claim back thousands of pounds in capital allowances on their commercial property.