Capital allowances explained - Guides - Gateley
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Capital allowances explained

Gateley Capitus

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Capital allowances are a key tax planning consideration. They are offered to companies and individuals that invest in and develop commercial property. So for every one pound spent on building, renovating or fitting out, up to 40 pence could be available as tax relief.

To find out more on what capital allowances are and why they matter, watch our short video. 

Read the transcript:

Capital allowances. Capital allowances are offered to companies and individuals that invest in and develop commercial property. So for every one pound spent on building, renovating or fitting out, up to 40 pence could be available as tax relief. Think of it like this. Your accountant will claim capital allowances on business items such as computers and cars. So why can't they do the same on a property? Well, for a car it's easy. You just take the purchase price. But what if you had to price the tires, brakes, engine steering, wheel, accel, and gearbox separately to fully maximise capital allowances? This is how a property must be valued.

Now imagine all the components that make up a property. Lifts, lighting, toilets, radiators, electrics, carpets, and the list goes on. Our experts combine skills in construction, tax, and accountancy. Add in expertise from our legal business Gately PLC, and we ensure our clients receive the maximum tax relief available.

To find out how much you could save call Gately Capitus, on O121 206 2343. Or visit Gatelycapitus.com.

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