A recent Court of Appeal decision has delivered excellent news for businesses involved in major construction and infrastructure projects. The ruling confirms that pre-construction development costs such as environmental studies, design work, and surveys can qualify for capital allowances in many cases. This decision could open the door to significant additional tax relief for commercial…
Running a commercial property comes with many costs – but did you know there’s a hidden tax relief that could significantly reduce your tax bill? Capital allowances are a government-approved way for property owners to claim tax relief on certain expenditures, yet many businesses don’t even realise they qualify. Why Are Capital Allowances Overlooked? Many…
As an accountant, you’re always looking for ways to help your clients save money and improve their tax efficiency. One area that is often overlooked is capital allowances. By ensuring your clients are fully utilising these tax reliefs, you can add significant value to your services and strengthen client relationships. What Are Capital Allowances and…
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.…
HMRC has recently updated its guidelines to clarify that a partnership containing a corporate member is eligible to assert capital allowances typically reserved for corporations. This encompasses allowances such as the super deduction and full expensing. The computation of a partnership’s profits is contingent upon the tax regulations applicable to its members: HMRC has revised…
