Capital Allowances in Office buildings

Do you own a commercial property in the UK?

Capital Allowances in Industrial Units / Factories

Are you a UK Tax payer?

Gym / Leisure building

If so, you may be eligible to claim
Capital Allowances

Bed and Breakfast / Hotel Capital Allowances

Tax relief of over 25% of the property’s original purchase and refurbishment price is frequently available.

Corporate Office Capital Allowances

We take the hassle out of your Capital Allowances Survey

Capital Allowances available on hotels

If you are a commercial property owner, and a UK tax payer, please get in touch!

Clarification by HMRC on capital allowances rules for partnerships

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:

  • In cases where all partners are individuals, profit calculations are executed under income tax rules, treating the partnership as a notional individual.
  • If all partners are companies, profit calculations adhere to corporation tax rules, treating the partnership as a notional company.
  • For partnerships with a mixed membership (comprising both individuals and companies), two separate computations are necessary—one for the notional individual and another for the notional company.

HMRC has revised its Capital Allowances Manual (CA 11145) to affirm that when determining the profits of the notional company, a claim can be lodged for capital allowances exclusive to companies subject to corporation tax. These allowances include the 130% super deduction and full expensing. The validity of the claim hinges on satisfying all standard qualifying conditions.It’s important to note that partnerships with at least one corporate member are ineligible to claim the annual investment allowance (AIA) when computing the profits of the notional company or notional individual. The AIA is only accessible to a “qualifying person,” defined as an individual, a company, or a partnership comprising exclusively of individuals (s38A, Capital Allowances Act 2001).