think you've claimed capital allowances tax relief? think again...

25 September 2020

There’s no approved ‘list’ of qualifying items for Capital Allowances, but in general there are items of plant & machinery that qualify. Most, if not all property owners will have at least one of the items from the list below in their buildings. You could quite literally be staring at the potential tax relief within your four walls!

what counts?

Items commonly include:

  • Electrical systems and lighting.
  • Heating, Ventilation & Air Conditioning (HVAC).
  • Water & Drainage systems.
  • Sanitary ware.
  • Communications systems.
  • Safety & Security systems.

As well as these more common items, specific types of businesses can also claim Capital Allowances on the more unusual aspects of their buildings. For example, hospitality businesses can claim on artwork and other items that help create an ambiance. Gyms may also be able to claim on specialist equipment or flooring that may be necessary to create a safe environment for customers!

Quick Case study

We recently completed a project for a business who owns its own warehouse. Despite being a small and fairly basic property with a small office area, we’ve been able to qualify Capital Allowances on plant & machinery which delivered approximately £15,000 in tax savings and refunds – a very welcome and unexpected boost for our client, especially in the current climate!

So, if you’ve already claimed, but want to delve a little deeper into the world of Capital Allowances tax relief, then give us a call on 01604 273782 or email our Property team – we’d love to speak to you.