Capital allowances and the coronavirus crisis

What are capital allowances?

Capital allowances are a government tax incentive for commercial landlords that allows a property owner to claim tax relief on items that make up the fabric of a building such as fire and security systems, heating and cooling systems etc.

How can this help save money on my tax bill?

An increasing number of clients we have helped in the past year have discussed with us the difficulties in collecting rent from their commercial tenants during this tricky time. Claiming capital allowances are an excellent way to save money whilst waiting for market uncertainties to pass. A £1,000,000 fully commercial property can expect to claim £200,000-£300,000 in allowances, resulting in a £40,000-£60,000 tax saving.

How is CPA Tax adhering to government coronavirus guidelines

A crucial part of the capital allowances process is surveying the property in order to understand the real value of claimable items. Our surveyors are taking every precaution necessary to avoid breaching government social distancing guidelines. Tenants do not need to be present at the time of survey.