Capital allowances provide a valuable tax deduction when businesses purchase items such machinery, equipment and computers. They are also claimable on property fixtures, including items such as electrics, lighting, heating, water systems, kitchen and sanitary fittings. They are therefore an important issue to consider when existing property is purchased or when money is spent on a new build, extension or refurbishment.
Claiming capital allowances is an integral part of the work we undertake when preparing tax computations.
When clients make major capital purchases we work with them to ensure that capital allowances are optimised and that they can benefit from the allowances, given our knowledge of their tax status and taking into account latest developments.