Capital Allowances for Fixtures & Fittings

Capital Allowances for Fixtures & Fittings

A large proportion of our work revolves around capital allowances on fixtures. This is highly relevant if you are buying/selling, building, renovating or simply own a property.

The low profile of capital allowances and the complexity of the rules relating to fixtures have resulted in tens of billions of pounds of tax relief going unclaimed, so you might very well be sitting on a substantial untapped tax windfall.

Back in late 2011 the thought of a huge latent claim coming home to roost caused Mr Osborne many sleepless nights (deep into the credit crunch there was of course nothing else worrying him!). To reduce this risk to the Exchequer the Finance Act 2012 brought in wide reaching changes to capital allowances on fixtures.

Capital allowances on fixtures not only represent significant opportunities but are now also a veritable mine field waiting to blow up in the face of the uninitiated.

(Mouse over the points below for more information)

  • What are capital allowances?

  • Historic Claims

  • So, what has changed?

  • What should you be doing?

Whilst the above covers a lot of the work we do it is by no mean exhaustive. If you own a commercial or residential building there will almost certainly be areas we can add value. We pride ourselves on operating in a transparent and open manner when it comes to fees. All charges and engagements will be agreed and set out in writing prior to chargeable work commencing. So give us a call today for a free initial appraisal.