What are Capital Allowances?

Capital Allowances are a valuable form of tax relief that enable you to offset the hidden expenditure in your commercial property. They are available to anyone incurring capital expenditure when purchasing or building a commercial property.

How would I know if my commercial property is eligible?

The range of eligible building types is vast and includes

  • Offices
  • Care / nursing homes
  • Restaurants
  • Pubs
  • Hotels
  • B&Bs
  • Warehouses
  • GP and dentist practices
  • Nurseries, and much more

Typically a claim for Capital Allowances can include elements such as

  • Air conditioning
  • Heating
  • Lighting
  • Wiring
  • Internal fixtures
  • Security systems
  • and much more.

All UK taxpayers that own commercial property, whether held personally or within a Ltd Company, may be eligible to claim Capital Allowances tax relief. Contact us today for a free consultation and we can help to assess whether this benefit may apply to you.

Would claiming for Capital Allowances effect our profits or capital gains tax?

It's worth noting that Capital Allowances are a tax adjustment only, so they have no effect on the profits shown in a company's financial accounts or on the market value of property. If and when you come to sell the property in question, having claimed Capital Allowances will not increase any capital gains tax due.

How much can I claim and how do I go about it?

The eligibility and value of the claim depends on numerous criteria, and assessing this can be complicated. Don't worry though - at Help2Grow our Chartered Tax Advisor partner can assist by making the process as simple and stress-free as possible. Contact us today to arrange a free consultation with a member of the Help2Grow team and we'll help you to establish the eligibility and size of your potential claim. We work to ensure that you have a smooth claims process, minimising the disruption to your day to day activity, so you can get on with running your business. All you need to do is provide us with some details regarding your commercial property and we’ll take it from there.

Sounds complicated - how do we go about this?

Contact us today to arrange a free consultation with no obligation to see if you may be able to claim for Capital Allowances Tax Relief.