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HMRC genuine and phishing/bogus emails and calls
HMRC have issued an update of their guidance on how to recognise genuine HMRC contact be it via email or text.Read more >
8 Aug 2017
Latest Labour Market Statistics
The latest labour market statistics for the period March to May 2017 showed a 175,000 rise in employment and 64,000 fall in unemployment.Read more >
7 Aug 2017
New timetable for Making Tax Digital
The government has announced a revised timetable for the introduction of Making Tax Digital for Business (MTDfB).Read more >
4 Aug 2017
Solihull Chamber News Column - 24th August 2017
The Chamber’s Quarterly Business Report (QBR) always highlights some interesting information on what is happening in the business worl...Read more >
24 Aug 2017
Solihull Chamber News Column - 10th august 2017
As Brexit becomes a reality, the Chamber of Commerce’s International Hub is stepping up its drive to encourage and help businesses to ...Read more >
10 Aug 2017
An update on Making Tax Digital
The Government have decided that the introduction of Making Tax Digital (MTD) will be delayed for businesses. We have summarised the la...Read more >
31 Jul 2017
Capital Allowances on Property
It is your Entitlement, don’t lose it!!
Capital Allowances mean tax relief
The more you have in your “pool” the less tax you pay
Your commercial property investment, or trading premises, have many fixed plant elements within the fabric of the building – such as Heating, Electrical systems, Air conditioning, Lifts, hot and cold water systems, security systems etc. These are regarded as Plant and Machinery for the purpose of the trade and therefore qualify for capital allowances within the Capital allowances Act 2001 (CAA2001).
Your capital expenditure incurred on the Purchase, Refurbishment, Extension, Fit Out or New Build construction will offer the possibility of tax relief within the legislation.
Typical values could be in the region of between 20% and 70% of the expenditure incurred.
Capital expenditure incurred even 10 years ago could still qualify and provide tax relief in the current financial year, or create a tax refund.
A word of Warning
New legislation introduced in April 2014 means that your entitlement relating to the current, or proposed, purchase of a qualifying commercial property is seriously at risk of being lost.
You must seek specialist advice immediately
Call Prime Today - we're here to help
If you are looking for an accountant for your business or personal finance matters call Prime Chartered Accountants, to arrange a free, no-obligation meeting with a Director.
Coventry - 024 7651 8555 or Solihull - 0121 711 2468