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Capital Allowances
Retrospective, Current Year and New Build Claims |
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Capital Allowances enable the cost of capital assets to be written off against the taxable profits of a business. Capital allowance claims equate up to 35% of your freehold cost! |
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Why you should be interested in Capital Allowances |
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HMRC provides tax relief for expenditure incurred by UK taxpayers on their Capital Investment in commercial and other qualifying types of property. Most UK businesses pay tax on their trading profits, and Capital Allowances allow them to reduce that tax liability by offsetting capital expenditure against those profits. This can result in either a refund of previously paid tax, or a reduction in future tax, or both.
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What is involved in making my claim? |
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The claim starts with an initial meeting at a time suitable to you. From this meeting one of our advisors will acertain as to whether you are able to make a claim. If you do qualify, and after engaging our services their is little else we require for you to do. From this point we will arrange to collect all neccessary accounts and paperwork, carry out a Capital Allowance Review followed by a comprehensive Capital Allowance site survey a detailed survey report is produced with accurate valuations relating to the previous unclaimed qualifying items taking into account time and regional variations.
A current year claim is where we identify additional capital allowances which can be used by the client accountant for inclusion in a tax return for a year not yet submitted.
For retrospective Capital Allowance claims the report and suporting evidence is submitted to the HMRC by us with most claims being accepted by the revenue with in 6 - 10 weeks. To arrange an informal meeting with one of our Capital Allowance specialists, please call us 01246 293011, alternatively email
sales@salmon-business.com |
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Will you qualify? |
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To claim Capital Allowances you must satisfy the following criteria:
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- You must be a UK taxpayer
- You must own one or more UK commercial properties
- OR you own one or more furnished holiday properties in the UK or EU
- The original purchase price was at least £300,000
- You must not be a registered charity.
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Why use Salmon Business Group to handle your claim? |
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There are numerous reasons why we are able to identify significant previously unclaimed capital allowances. The tax legislation covering capital allowances is complex and the interpretation of this legislation has changed many times over the years, (the latest budget is a case in point) and a review at a later date can reveal new areas to claim. Salmon Business Group can identify items that previously did not qualify but do now.
One of the main reasons we are able to make large retrospective capital allowance claims is the fact that vendors have rarely claimed all the capital allowances available and thus the purchaser has the opportunity to do so on the original items still in use. (Subject to contract). |
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Request a Call Back
Just give us your telephone number and a time to call you. |
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