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Can I Make A Capital Allowance Claim ? |
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The simple answer is nearly everyone who owns a Commercial Freehold property is entitled to make a Capital Allowance claim. |
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We can, and have carried out claims for individuals / partners who own the property personally but charge a commercial rent to the trading company for:
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Care Home Owners |
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Car Dealerships |
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Office Block Owners |
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Veterinary Practices |
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Student Apartment Blocks |
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Medical Practices |
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Leisure Parks |
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Hotels |
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Cinemas |
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Pubs and Clubs |
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Day Nurseries |
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Health Centres |
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Garden Centres |
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Commercial Landlords |
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As the list above clearly illustrates, nearly every type of business can make a claim, the above also applies to Limited companies. |
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What are the exceptions? |
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The immediate exceptions to the above list and therefore unable to make a Capital Allowance claim are: |
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Buildings, where industrial buildings allowances or agricultural building allowances have already been claimed. |
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The same applies for the hotel sector where hotel building allowances have been claimed (post 1978 builds) - (although a claim could still be made where I.B.A.'s may not apply to the whole building). |
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Inherited properties where the district valuator was not involved. |
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Properties held in trust or offshore |
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Properties held by charities |
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Properties held by local authorities |
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Contracts of Purchase involving a Section 198 Election. |
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Properties held by Executive Pension Funds. |
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Qualifying Criteria |
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To qualify for a current or retrospective Capital Allowances claim, our criteria are as follows: |
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The acquisitionof the commercial freehold property must have taken place within the last 15 years. |
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The related acquisition costs exceed £300,000 |
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The freehold property must be owned by the client personally, or a trading company or an investment company. |
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Request a Call Back
Just give us your telephone number and a time to call you. |
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