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Capital Allowances

What are Capital Allowances?

What are capital allowances? A commonly asked question among UK businesses. Under the capital allowances regime, capital expenditure by companies on qualifying items can be claimed and offset against taxable profits. If you were to ask ‘what are capital allowances used for?’, they essentially provide a way for the government 

Capital Allowances Advice

Anyone that has an interest in commercial property should have heard the term capital allowances. But, whilst the benefits of making a claim can be significant, many property owners miss out on what are potentially extremely valuable reliefs. Figures as to the amount of property owners claiming allowances vary, but 

What are the Different Types of Capital Allowance?

If you have identified assets eligible for capital allowance relief, the next step is to ascertain the type of claim you can make to write off the cost of the asset against your taxable profits. There are however a number of different types of capital allowance available, each with their 

HMRC: Unclaimed property tax allowances may exceed £2bn

Research by HMRC has estimated that there potentially £2.1bn has gone begging since April last year. The numbers were based on a survey of nearly 115,000 commercial property transactions that have taken place in this time. A tenth of these properties are expected to have qualified for Capital Allowances (CAs) 

Property embedded Capital Allowances: A summary for 2015/16

Background Capital Allowances (CAs) should be at the forefront of all commercial property owners minds. Generally, such claims will be in relation to so-called property embedded fixtures and fittings. In other words, fixtures and fittings acquired with the building and / or certain expenditure on refurbishment of a property. For 

Guide on temporary increase in Annual Investment Allowance cap

A short guide to explain how the Annual Investment Allowance (AIA) works has been produced by HMRC. The guidance reflects the temporary increase in AIA to £500,000. As announced in Budget 2014, the temporary increase will cover expenditure incurred from 1 April 2014 for corporation tax (CT) and 6 April 

Don’t miss out on your capital allowances

It is estimated that there is more than £1billion of unclaimed capital allowances in the UK. But new rules that come into effect this month will bring about significant changes to the capital allowances regime – and increase the risk of tens of millions of pounds going unclaimed. The changes,