Capital allowances for commercial property
Discover your entitlements and boost your savings
Capital allowances on commercial property
Capital allowances are a form of tax relief that businesses can claim on certain types of capital expenditure, such as assets they use in their business. You don’t want to be paying more tax than you have to, so understanding your capital allowances is crucial!
For owners of commercial property, capital allowances provide valuable tax relief on the reduction of qualifying ‘plant and machinery assets’, such as furniture, fixtures and fittings.
Have the best capital allowances consultants on your side
At Eureka Capital allowances, we have decades of experience in capital allowances, and help our clients to unlock thousands of pounds of hidden tax relief in their properties.
We help a number of commercial property owners to unlock their tax benefits across multi-sectors including pubs and restaurants, B&Bs, offices, doctors and dentist surgeries and care homes and nurseries too!
How to know if your property qualifies for capital allowances
In order to be eligible for capital allowances, your property must be a commercial property and owned by a UK taxpayer, whether an individual or company. There are a number of different qualifying commercial properties, including:
What expenditure qualifies for capital allowances?
Qualifying capital expenditures are the items used in the commercial property, generally referred to as ‘embedded fixtures.’ Qualifying expenditures include installation costs for heating systems, lighting systems, air conditioning units, lifts and much more. Claiming on items added, can be picked up by an accountant, but not always. That is why we offer a free forensic review to ensure nothing has been missed.
More complex and widely overlooked capital allowances opportunities, are known as purchase claims. Unbeknown to many owners, is that they can also qualify for capital allowances claims relating to identifying capital allowances on qualifying items that were already in their property upon acquisition. This typically equates to between 25-45% of the purchase price, resulting in substantial savings for owners. Essential to these specialist claims are surveyors.
Capital allowances services
Capital Allowances widely underclaimed by commercial property owners due to a lack of understanding of the rules around it. At Eureka, we want to put an end to this confusion! Our capital allowances services can help to save commercial property owners thousands of pounds by identifying hidden tax relief that they’re unaware of.
There are no upfront costs, and if we do not find anything, commercial property owners will not pay anything.
Why choose Eureka?
What are capital allowances for commercial property?
Capital allowances are a form of tax relief for businesses that allow you to deduct the cost of certain capital expenditures from your taxable profits. For commercial property, this includes expenditures on items such as machinery, equipment, and certain fixtures and fittings.
What types of expenditures qualify for capital allowances in holiday lets?
Qualifying expenditures for capital allowances in commercial property include costs related to plant and machinery, integral features (such as electrical systems, heating, and water systems), and certain types of building renovations and repairs.
How can capital allowances benefit my business?
By claiming capital allowances, businesses can recover a portion of their investment in commercial property assets, making it a valuable tool for financial planning and investment strategy.
How do I claim capital allowances for my commercial property?
To claim capital allowances, you must identify all qualifying expenditures and include them in your tax return.
Questions?
Have any questions that we haven't answered here? Get in touch with us and we will do our best to answer them for you!
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