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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