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Capital Allowances

Capital Allowances. The Opportunity. What are Capital Allowances?. Capital Allowances Allow taxpayers to write off the cost of certain capital assets against taxable income or profits. They have been around since 1878, and are. currently contained within CAA2001. Types of Tax Relief.

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Capital Allowances

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  1. Capital Allowances The Opportunity

  2. What are Capital Allowances? Capital Allowances • Allow taxpayers to write off the cost of certain capital assets against taxable income or profits. They have been around since 1878, and are. currently contained within CAA2001

  3. Types of Tax Relief • Plant & Machinery • Research & Development Tax Relief • Business Premises Renovation Allowances • Landlords Energy Saving Allowances

  4. Making the Claim • Shrouded by complex legistration • Every building has them • Statutory right to claim since 1878 • Specific skill sets to identify • You have to identify • You have to make the claim

  5. Why making a claim is difficult • Lack of expertise • Complex legislation • Failure to classify expenditure correctly • Misunderstanding of claims timing • Requires a dual skill set of both a quantity surveyor and an accountant

  6. The purchase price of a building = The difference between first & second fix Example £750,000 • General understanding of the above purchase £750,000 = No Tax Relief (HMRC) • Our understanding is (In our example);- First Fix £500,000 plus Second Fix £250,000 = Purchase Price of £750,000 • CBTC identifies the £250,000 and claims this Tax Relief from HMRC on your behalf

  7. Highlights • 96% of UK Commercial Property • Successful claims history • No report – No fee

  8. Christopher Bailey Tax Consultants • Specialist Tax Consultancy • Retrospective, Current Year, and New Build Capital Allowance Claims • We help clients claim THEIR MONEY back from the Government www.baileygroup.co.uk

  9. Our Unique Selling Points • No report – No fee • Free report if we fail to identify less than £20,000 of CA • No up front costs • No additional survey costs • All inclusive fixed fee of 5% of identified CA • Two payment options to help cash flow • Only qualified surveyors engaged • Compliant & non confrontational HMRC approved reports • Successful track record

  10. What is Qualifying Property • Freehold Commercial property • Furnished Holiday Let in the UK or EEA

  11. Qualifying a Commercial Property • Purchase price at least £200,000 • Property Owner is subject to UK Tax • Not held within a pension, government owned or Charity • Paid Tax in the last 2 years or likely to pay Tax in the foreseeable future • No previous Capital Claims have been made

  12. Commercial Property – What can be claimed • Plant & Machinery strip out • Heating Installations • Gas and Electrical Installations • Electrical Applications • Communications Installation • Security Installations • Hot & Cold Water Installations • Waste Disposal Installations • Ventilation & Air Conditioning Installations • Internal Fittings

  13. Claims can be retrospective There is No time limit on how far back you can go, in owning the property, and you can even go back two Tax years when claiming

  14. HMRC Approved Most retrospective Capital Allowance claims that we deal with lead to a:- SIGNIFICANT TAX REBATE FOR THE CLIENT

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