A Guide for Commercial Property Owners
Introduction
Capital allowances are one of the most overlooked tax relief opportunities available to commercial property owners in the UK. If you own a commercial property, you could be entitled to claim thousands of pounds in tax relief – but many businesses fail to take full advantage of this. In this guide, we’ll explain what capital allowances are, who can claim them, and how you can ensure you’re not leaving money on the table.
What Are Capital Allowances?
Capital allowances are a form of tax relief that allows commercial property owners to offset qualifying expenditures against their taxable profits. This includes costs related to plant and machinery, integral features of a building, and even renovations.
Who Can Claim Capital Allowances?
You may be eligible to claim capital allowances if you:
- Own a commercial property (office, warehouse, shop, hotel, etc.).
- Have purchased, built, or refurbished the property.
- Use the property for business purposes.
What Can Be Claimed?
Common qualifying items include:
Electrical and lighting systems
Heating, ventilation, and air conditioning (HVAC)
Fire safety and security systems
Lifts and escalators
Kitchen and bathroom fittings
How to Claim Capital Allowances
Many commercial property owners assume their accountant has already claimed capital allowances on their behalf. However, this is often not the case – specialist knowledge is required to maximise claims. It’s recommended that you work with a capital allowances expert who can conduct a full review and ensure you receive every penny you’re entitled to.
Checklist
Use our free downloadable checklist as a guide for a potential claim.
Don’t miss out on potential tax savings! Contact CA Select Limited today for a free capital allowances review.
