Claiming Capital Allowances tax relief…
Accountants tend to claim capital allowances on loose furniture and trade equipment. Examples of these could be desks and chairs in an office, manufacturing equipment in a warehouse, etc.
Our intention is not to scrutinise what your accountant carries out in their normal practices, nor infringe on their relationship with you. We will not change anything that your accountant has claimed or duplicate their work, our work is in addition to what has been done. Our fundamental role is to add value where qualifying expenditure has not been claimed, to generate the maximum possible benefit.
Where we can add value is by identifying embedded plant and machinery (heating systems, security systems, electrics, lighting, plumbing, etc) which comes with the property or is added or replaced during ownership. We can also add value where there isn’t a full itemised breakdown of costs (i.e. just contractor valuations/payments) or with large, complex projects where specialist Capital Allowances knowledge is required in order to get the maximum benefit. This is only possible through our expertise in HMRC legislation and our expansive library of property costing data which allows us to accurately breakdown property expenditure to HMRC standards.