Capital Allowance Tax Relief
An owner of a commercial property is entitled to claim specialist tax relief on embedded fixtures acquired with the property when they purchased it. This is known as Capital Allowance Tax Relief. Even if the original fittings have since been repaired or replaced, most owners are unaware of their ability to claim and miss out on thousands of pounds.
What is Capital Allowance Tax Relief?
Capital Allowance Tax Relief is a valuable tax relief that many businesses in the UK can benefit from. They enable you to claim tax relief on qualifying items within commercial properties, such as buildings and machinery. By identifying and claiming these allowances, your business can significantly reduce its tax liability, freeing up capital to reinvest in your operations or expand your business. Embedded fixtures can include things such as:
- Water and heating supply (boiler)
- Underground pipework
- Bathrooms and kitchens
- Lighting and electrical systems
- Ventilation
- Carpets
- Doors and locks
How Can We Help?
At Growth Hive UK, we specialise in helping businesses like yours unlock the full potential of Capital Allowance Tax Relief. Our team of experts is well-versed in the intricacies of the UK tax system, and we have a proven track record of delivering substantial tax savings for our clients.
Assessment and Survey – We begin by conducting a comprehensive assessment of your commercial property to identify all eligible embedded assets. This includes everything from lighting and HVAC systems to data cabling and more.
Detailed Reports – Our experts provide you with detailed reports that outline all the qualifying items and their respective valuations, ensuring compliance with HMRC requirements.
Tax Relief Claims – We handle all aspects of the claim process, working closely with HMRC to ensure that you receive the maximum allowable tax relief. This can result in a significant reduction in your tax bill.
Ongoing Support – Our commitment to you doesn’t end with a successful claim. We offer ongoing support to keep you informed about changes in tax regulations and provide guidance on maintaining compliance.