Are you aware that substantial tax savings may be available to you if you’ve refurbished your commercial premises, regardless of whether you own or lease it? Upon completing a refurbishment of a commercial property (even a holiday home!), businesses have the opportunity to claim capital allowances for specific items of plant and machinery that are incorporated in the refurbishment, resulting in tax savings that could amount to thousands of pounds. Do you own or lease a commer

What are Capital Allowances Corporation Tax Tax Deductions Capital Allowances Who can claim? What’s Included? Capital Allowances - What are they and who can claim them? Introduction Far too many business owners don’t understand how to claim capital allowances, or even what they are. If you ask, you’re likely to get jargon-filled answers about tax relief, business assets, and before-tax profits. We’re going to break it down and give a simpler explanation, including all

Capital allowances can be claimed on most assets that a business has purchased and this expenditure can be claimed against a company's taxable profits. Assets purchased by a company can come in many forms such as fixtures and fittings, land, technology, etc. as each asset plays a different role in the Tax rules that apply can vary. Annual Investment Allowance As the limit for annual investment allowance (AIA) has been increased from £200,000 to £1,000,000 then the purchasing