Capital Allowances Services Cheltenham

Maximising entitlement to Capital Allowances can and should form a large part of a business’ tax strategy, and many claims are time limited.

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There are many different kinds of Capital Allowances.  We will help you navigate these and ensure that you are claiming what your business is entitled to.

Tax Planning | Randall & Payne Tax Advisors

Annual Investment Allowance/Full expensing

Every business is entitled to receive full, up front tax relief on up to £1 million per year of expenditure on qualifying business plant and machinery, including commercial vehicles, fixtures, fittings and equipment/machinery. This increased limit is now permanent, at least until such time as the government choose to change it.

In addition, all companies now benefit from the “full expensing” rules which have now been made permanent, permitting companies to claim full relief on nearly all brand new machinery costs.

There are exceptions to this rule and we can help you to navigate the system and ensure you maximise the benefit for your business.

Motor Vehicles

Over the last decade or so, allowances for motor cars have changed significantly as the government seeks to discourage more pollutant cars with high carbon dioxide emissions. As a result, the allowances available for petrol and diesel cars are now considerably lower than they used to be.

Conversely, in a bid to encourage take up of electric vehicles, 100% allowances have now been available for some time on new all-electric cars, and will remain so until at least 2025.

We can help you find the most appropriate car ownership policy for your business, considering both Capital Allowances and Benefit-in-Kind implications.

Commercial Property

It is often possible to make valuable claims for embedded fixtures within a property when purchasing a commercial building, but there are strict rules and time limits which need to be carefully navigated, and usually you need co-operation from the seller to be able to agree an approach to maximise your allowances.

We can advise on how to maximise allowances on your property assets, and where appropriate, can partner with a good Quantity Surveyor to ascertain the qualifying elements of a property purchase in support of a claim.

Where you are constructing or purchasing a new build, or improving an existing building, we can also help you to harness Structures and Buildings Allowances which can benefit both you and future owners of the property by way of a tax saving spread over 33 years.

If you need guidance to meet your business goals, call us today to find out how we can get you on the right track.


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