South Wales, UK - Commercial Property Capital Allowance Claims Explained By Hayven Property Tax

If you are a UK taxpayer and own a commercial property or have a financial interest in commercial properties, then reading this article could prove to be the most economically positive 10-minutes of your year.

If you are involved with the buying, selling or spending money on a commercial building they/you may be eligible to use “Property Capital Allowances”. This provides an opportunity to make a claim for a tax refund or mitigate future tax liabilities.

Commercial Property Capital Allowance ClaimsYou may be under the misapprehension that your Accountants are aware of this tax relief. There is a general lack of understanding or application of the legislation and case law governing the availability of the relief from capital allowances. Most accountants do not fully appreciate the finer details or may use mainstream accountancy software that will likely miss these tax benefits for your business. Which is why capital allowances are either under-claimed or not claimed at all. It is thought that only 10% of UK commercial property owners have made the claim.

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All Accountants will be aware of, and claiming against, “movable” items, such as chairs, computers, desks etc. as well as items used within your trade, such as plant and machinery. Allowances for buying, selling, new builds, refurbishment and “fit-outs” came into effect a relatively short time ago and have seen major and detailed changes in 2008, 2012 and again in 2014. Therefore, it is not feasible for all accountants and tax advisors to be fully aware of what is becoming a specialist issue.

Although since 2011, it has not been possible to make capital allowance claims against the actual building or structural aspect of the property such as walls, ceilings and floors, capital allowances can be claimed against “immovable” items that make up integral features of the building such as air-con, electrical and plumbing systems, kitchens, security systems, lighting and other items commonly found within commercial properties.

Commercial Property Capital Allowance Claims – When To Seek Advice?

Hayven Property Tax will carry out a free appraisal to establish your eligibility to make a claim, so you have nothing to lose from seeking our specialist advice as early as possible.

Commercial Property Capital Allowance Claims – Who Can Claim?

An individual, company or partnership can claim if they incurred the relevant costs or made the purchase. This includes freehold and leasehold ownership. The claimant must be paying income tax or corporation tax in the UK.

Hayven Property Tax is run by a team of qualified Chartered Accountants who have an in-depth knowledge of capital allowance claims gained through 10-years experience of submitting 100% HMRC compliant claims.

We do not request any upfront fees, nor do we have any hidden charges. Fees are calculated on your final pool of allowances. Our fees promise, our passion to deliver great customer service and 100% record in successful claims are why many commercial property owners choose to Hayven Property Tax to make a capital allowance claim.

Find out everything you need to know here: www.hayvenpropertytax.co.uk/commercial-property-capital-allowance-claims/