Surprise Bonus for Companies Companies who are making significant capital investment over the next two years received a welcome boost from the budget. The budget introduced a new super-deduction of 130% for qualifying capital expenditure. The Chancellor explained a company spending £10m would currently achieve tax relief of £2.6m in the year of expenditure, whereas […]
Capital Allowances Claims on Commercial Property
Keep up to date with changes to the Capital Allowances legislation and the benefits of undertaking a claim on commercial property expenditure.
Since the introduction of the Structures and Buildings Allowance (SBA) from 29 October 2018, taxpayers and advisers have been waiting for HMRC’s guidance. HMRC’s recent guidance has clarified a number of issues, but not all, although HMRC have said further updates to the Capital Allowances Manual will follow. Businesses and accountants need to consider whether […]
(For full details of the SBA see HMRCs technical note dated 29th October 2018 available here) Please also note there has been additional consultation on these new allowances and the final legislation will not be in place until the Summer of 2019. Therefore the information given below is only indicative and not final. Introduction The Budget […]
Buyer Beware Over the past few years there has been a steady increase in firms offering capital allowances claims services in respect of commercial property expenditure. Given the wide variety of suppliers of these services it is important for the potential client to understand that not all suppliers may have your best interests at heart. […]
We suspect that Guest House and Bed & Breakfast owners are one of those groups who have generally failed to investigate making a capital allowances claim on the acquisition of their property. Claiming capital allowances on these types of property is relatively straight forward for specialists such as ourselves. The only challenge, if one could […]