Commercial Property - Maximising The Tax Relief
July 2006
Did you know that most commercial property owners who incur capital expenditure on a property can claim tax relief in the form of Capital Allowances?
Introduced to encourage investment by business, opportunities to claim Capital Allowances may arise when purchasing, building or refurbishing a property. The Allowances can reduce a company’s tax bill by providing relief for such expenditure against taxable profits. However, many property owners, lose thousands of pounds each year as a direct result of lost or under-claimed allowances, as they do not receive the expert advice that is crucial to successful claims for Capital Allowances.
This presentation, delivered by Michael Henshaw, Director of Tax Advisory Services at Greenhalgh & Co, was attended by businesses who are considering purchasing, refurbishing or building a property, or who may have done so in the past, and who are entitled to claim tax relief in the form of Capital Allowances. The presentation was also attended by a number of local business professionals, many of whom have clients who could be entitled to make a claim.
Many businesses are unaware that they can make a claim or unsure as to exactly what expenditure qualifies. The purpose of this presentation was to explain what Capital Allowances are and to identify which areas of expenditure qualify, as well as look at issues such as how to deal with Capital Allowances in the event of a property being sold.
To view a copy of the slide show from this presentation, click here. (File size 759KB)