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.

Annual Investment Allowance / Super-Deduction

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 temporarily high limit runs until 31 March 2023, when it is due to fall back to £200,000.

The interaction of the AIA with a business year end is not as straightforward as you might think, and can lead to some very strange results. We can help you to plan your capital investment in the business to ensure you obtain tax relief as quickly as possible.

We can also help you to maximise the benefit of the new Super-Deduction for new equipment announced at the Spring Budget 2021.

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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