Capital Allowances

Capital Allowances are a UK government incentive for both individuals and businesses.

The incentive is in the form of a tax relief as a deduction against profits, reducing the amount of tax required to be paid. The input of a capital allowance advisor such as The Vinden Partnership can be utilised to identify and value the qualifying expenditure on which the client can claim.

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A solid service offering the successful submission of capital allowance claims.

Martin Bennett, Regional Director

Recent Changes to Capital Allowances

Clients should note that timing is vitally important due to changes that came into effect on 1 April 2014 when HMRC introduced additional requirements that need to be met for all commercial property transactions. After 1 April 2014, if you sell a commercial property but haven’t identified the available allowances can claimed them in your tax return, the unclaimed allowances are lost for the seller, the buyer and any future owner of the property. All property owner should review their portfolio to establish if they have any unclaimed allowances. Capital Allowances are available on all property types other than private dwellings, unless they are used as a holiday letting. The Vinden Partnership can assist with this process by identifying and quantifying any unclaimed allowances.

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If you require further information on any of our services, or if you wish to discuss your requirements with us, please do not hesitate to contact us.

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