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Common Misunderstandings about Property Capital Allowances

Claim Tax Relief for Property Capital Allowances your Accountant will not have claimed for!!

Common Misunderstandings/ Myths explored...

1. Our Accountant has claimed everything already

No...that's unlikely: your Accountant will have claimed Asset Capital Allowances on your behalf but unless they have commissioned a full Property Survey, then it's highly unlikely that they have claimed all your Property Capital Allowances.

2. Plant & Machinery can only be claimed in a factory

No...there are over 400 definitions of what can be claimed as Plant & Machinery: We have worked with a sheep farmer who successfully claimed for his Sheep Dogs, as "Plant & Machinery".

3. Property Capital Allowances can only be claimed when selling

No...If you own a commercial property bought before 2014 you can claim if you have not claimed previously, but if you sell a property after 2014 and don't claim at the point of the sales contract, then the opportunity to claim is lost forever.
As a firm of Chartered accountants who specialise in this area, we can virtually guarantee you that you are missing out on tax rebates from HMRC if you have not had a full Property Capital Allowance survey on your properties.
We are Chartered Accountants and have helped over 4000 clients mitigate their tax liability and we employ over 60 staff to help you minimise your tax liability.
Give us a ring for some independent and qualified advice. Call Bill Loryman on 01327 340408

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