If you are not sure whether you can benefit from Capital Allowances for your business or commercial property whether at home or abroad then it might well suit you to get our free guide and e-booklet to Capital Allowances by signing up to the newsletter under the big red arrow to the right.

It is a short read and gives you some examples of businesses that have benefitted from getting tax relief and tax returns from the inland revenue by claiming their capital allowances in full. And this is the important part. Even if you have previously been aware of capital allowances it is very likely that you are not claiming your full amount. As it costs you nothing to find out, you simply have to fill in a form and we can help you to arrange a full telephone consultancy, have a look and sign up to the newsletter. It might be the most profitable thing you do this year.

Oh and by the way the tax advantage may soon be closed by the new government (See the articles below) so act fast to claim yours

Related Posts

1) Are You Benefitting From Your Full Capital Allowances

2) Capital Allowances and Commercial Property Abroad

3) Capital Allowances For Boutique Hotels

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Capital Allowances are often extremely well hidden in a business and our ability to seek them out so well is why our service is unique. We believe that we are able to find substantial tax benefits hidden behind the facades of most buildings used for a commercial business. Here are a couple of examples that may inspire you

Our company was able to identify substantial Capital Allowances embedded within ‘Biggin Hall Country House Hotel’ which amounted to 21% of the acquisition and development costs of the property. The owner, who had no idea of their availability, subsequently enjoyed a large refund from HMRC with additional credits to offset future tax liabilities.

This type of hotel is typical of those that can benefit greatly from Capital Allowances and also the owner was able to benefit from Capital Allowances from years prior to his purchase of the property due to the previous owner not taking advantage of the capital allowances in the business.

Amhuinnsuidhe Castle is not your typical hotel of course. With the help of Capital Allowances who identified for the new owner of this castle a whole treasure chest of unclaimed Capital Allowances valued in excess of £1/4 million which had been locked within the Property and not claimed by the previous owner, the new owner received a large tax refund and tax credit to offset future liabilities.

More examples to come of great tax savings and refunds using the Capital Allowances in your commercial buildings. Keep an eye on the site.

For those of you thinking, but my hotel is in another country, think again. If you are a UK taxpayer then you can claim these capital allowances as long as the property is rented out for at least 12 weeks per year. Get in touch on capallowances@gmail.com and we will get back to you.

Capital Allowances are for UK taxpayers but not many people know that if you have a commercial property abroad and are a UK taxpayer then you could be due a large tax rebate. What constitues a commercial property abroad though?

1) If you have a property that you rent out for part of a year then you can claim it is a business. This means that it qualifies for capital allowance tax relief which of course can be backdated. Commercial premises may mean hotels, guest houses or simply a house that you rent out. However it is not really worth the while of putting in a claim unless you have a property of considerable value. Properties over half a million Euros can easily be claimed for though.

2) If you live abroad but run a company in the UK that owns its own premises and has plant and machinery and if you pay tax in the UK then you can use those premises for your capital allowance claim.

3) Real estate portfolios. If you have a large real estate portfolio then your capital allowance claim could be significant. This would include all real estate both in the Uk and abroad.

If you have never been advised about capital allowances then you probably have a considerable claim reaching back over several years that you can get back from the the HM Tax Inspectors. Call us for a free consultation in the first instance contact should be made by mail to capallowances@gmail.com

This post is directed at the small or medium sized business owner. The advice herein can also be applicable to anybody who has a property abroad that they rent out on a regular basis, call us for details. If you have a property abroad that is worth a few hundred thousand and up then this is most certainly for you. Think about that as you are looking at the following points about real world businesses. Capital Allowances are for UK taxpayers of course but UK taxpayers with property abroad or property owners living abroad but still paying tax in the UK can also be beneficiaries of Capital Allowances.

Most businesses are aware that they can claim substantial tax relief on purchases or investments required to run a business, known as capital allowances. This tax relief applies to plant & machinery, buildings and research and development and enables a business to deduct a proportion of these costs from their tax bill. A good accountant or other business advisor will have a standard routine for taking companies through an assessment of what they can claim, with the aim of collecting up all applicable capital allowances and maximising the tax benefit to their clients. However, a good capital allowances expert will look further, winkling out previously un-thought of items of allowable capital, embedded deeper in the business. Uncovering this extra layer of allowable items can add tens or hundreds of thousands of pounds to a business’s total tax savings.

Plant and machinery is not a term defined in law and in practice it covers a wide range of items, extending far beyond just movable items and fixtures & fittings such as ‘machines, cars, tools, equipment, computers, software, furniture, etc’ which will appear on routine check lists. It can cover items hidden in the very fabric of a building – known as – ‘integral fixtures’. For example:

• A good accountant will diligently count up all the PCs and workstations as allowable items, as these are essential to running the business; but, a capital allowance expert will look further and count the floor boxes embedded in the building structure as well, which provide power sockets, telephone jacks and computer points – all equally essential to running the business.

• Likewise a good accountant will know how to value the furniture and furnishings integral to running a hotel business; but a capital allowance expert will know to include also, items integral to the building, but equally essential to running the business, e.g. items relating to thermal insulation (e.g. radiators) and fire safety (e.g. fire doors). Also, ‘Ambience Issues’ can sometimes be taken into consideration.

• Again, a good accountant will have a diligent system for counting up a sport centre’s gym and other equipment as allowable items; but a capital allowance expert will look further and include e.g. anti-slip or soft impact floor surfaces, integral to the building but nevertheless essential in this type of business and part of the safety cost.

• This is just a small example. The list of Capital Allowable items is vast.

Welcome to Capital Allowances. This blog will tell you all you need to know about claiming your capital allowances as a UK Taxpayer living abroad.