What Are Capital Allowances?
Capital allowances are a long established form of tax relief given on qualifying capital expenditure.
The most common type of capital allowance is given on plant and machinery. In commercial property that relates to a broad range of assets including the heating and hot water installations, electrical systems, sanitary installations, carpets, signage and fixed furniture. Therefore, when an investor, owner or tenant constructs, extends or fits out a commercial property, significant levels of allowances can be claimed.
In addition, Structures and Buildings Allowance, which is a relatively new type of capital allowance, is available on qualifying structural works.
For more information on capital allowances and what relief may be available to you or your clients, please get in touch for an initial discussion.
