Capital allowances are a highly effective way of reducing the after-tax cost of buying plant, equipment, fixtures and fittings, and acquiring, building, fitting out or refurbishing property.
Expenditure on property is one of the most important areas in which capital allowances need to be carefully considered. Typically, 40% of expenditure on new office builds can qualify for capital allowances, increasing to 80% for office refurbishments and 95% for retail and leisure fit-outs. 150% first year allowances can be obtained on land remediation relief, common in many new residential and mixed-use projects.
However, many businesses do not claim all of the capital allowances or other tax reliefs to which they are entitled.
How can we help?
We add value by working closely with our clients’ management, finance and technical teams to fully understand the entire process of the development being undertaken.
The key to a successful capital allowances claim is to look beyond the clearly identifiable fixtures within a property development and to understand how the fixtures will be incorporated within the building and the importance of those fixtures to the business of the building owner and / or occupier. We can not only search out the qualifying fixtures but we can help the designers to incorporate these fixtures in such a way that a greater proportion of the development becomes entitled to tax relief through Capital Allowances.
Do you offer free consultations?
When you contact us for accountancy advice, we will supply you with a free, no-obligation quote based on your business needs and bespoke requirements. We aim to answer all enquiries within 24 hours, so please get in touch with Approved Accounting today if you would like to know more.
Who do you help?
We provide services to personal taxpayers, self-employed individuals, partnerships, company directors and property landlords. Our services are tailored to you and your needs. You will find more information about who we help here.
I am looking for a price, what are your fees?
In order to provide you with a quotation, we can arrange a free, no obligation, consultation with you to discuss your individual needs so that you only pay for the level of support that you require. This allows us to best understand your needs and provide a tailored quotation for you. From this meeting we will provide you with a fixed fee quote that we both agree to and you will then know exactly what you are paying for the services we provide. Our clients tend to prefer to pay monthly which is an option we can discuss in the meeting.
Do you offer work experience placements?
Yes, if you are looking to gain experience in bookkeeping, tax or accountancy, some of our local offices offer work experience placements from time to time. The arrangements vary across our locations. To be put in touch with your nearest office to find out more, please contact us online.