When you incur expenditure on your business property, either by way of a purchase, or expenditure incurred as the owner or tenant, you may be entitled to claim capital allowances. Capital allowances allow you to deduct the cost of qualifying expenditure from your profits before you pay tax.
As well as assets used in your business, costs qualifying for capital allowances may also include:
In addition to these allowances, the newly introduced Structures and Buildings Allowance (SBA) grants a further level of tax relief for other costs associated with a new project.
As well as assets used in your business, costs qualifying for capital allowances may also include:
- Removal of existing plant and machinery
- Fixtures like kitchens and bathrooms including fire alarms and CCTV
- Parts of a building considered “integral” such as electrical systems, water systems, heating systems and lifts
In addition to these allowances, the newly introduced Structures and Buildings Allowance (SBA) grants a further level of tax relief for other costs associated with a new project.
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Capital Allowances
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Worcester
Braemar Frankland offered to review the CA claim my accountant had prepared on my recent restaurant fit out. Not only did they make the effort to actually visit the site, but they managed to increase the claim by a further 60%
RESTAURANT OWNER
I’ve known Joe for years and always get his opinion on a property before investing (either for myself or for one of my clients). Great to work with, always quick to respond and his technical knowledge is surpassed only by his ability to avoid buying a round
Cheltenham
Property Consultant & Investor
Very pleased that Braemar Frankland were able to secure us two years’ worth of cash repayments, plus future tax relief on a property that the solicitor had told us had no capital allowances available
Newport
Manufacturing Owner-occupier
- Undertake due diligence on the property acquisition or expenditure to assess entitlement to claim
- Work with your solicitor to include appropriate contract clauses to ensure any entitlement is secured upon a property purchase
- Assist in project design to maximise available tax relief on any development works
- Undertake property surveys to determine which assets are eligible for tax relief and to obtain photographic records for HMRC
- Prepare a valuation report of the qualifying fixtures in accordance with tax and case law
- Work with your accountant to ensure our reports reconcile to your tax computations
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How we can help
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