Capital allowances are tax savings available on certain items of a commercial property. Examples include, but are not limited to, kitchens, heating installations, sanitary systems, hot water systems, fire alarms, air conditioning and lifts.
The job of identifying eligible capital allowances falls between the role of an accountant and a surveyor. Understanding both the complex tax legislation covering this area, and being able to inspect and value all qualifying items are skills rarely held by a single company.
Many accountants and chartered surveyors have therefore not been in a position to properly advise their clients on whether a Capital Allowances claim can be made, often it is just overlooked. At the time of most property transactions, relevant Capital Allowance paperwork is often incomplete and with the introduction of the ‘new’ rules could cause issues with your future eligibility to claim.
This is why BDO LLP and Roger Hannah have teamed up to ensure our clients fully benefit from a maximised Capital Allowances claim.