Capital Allowances provide an opportunity to save substantial amounts of money in a lean market yet many property owners and occupiers are already sitting on vast savings without even knowing it.
There is no time restriction to review historic expenditure for Capital Allowances tax savings, as long as the fixtures are still owned.
Accountants are often relied upon by their property clients to navigate every complex tax regulation, but they cannot be an expert in everything nor have the time and resources to do so, much like how GPs refer patients to specialist consultants for specific treatments.
It is easy to unintentionally overlook specific opportunities to claim capital allowances when acquiring, refurbishing or developing a property. Legislation is not always black and white; even a seemingly simple restaurant fit out or office refurbishment gives rise to opportunities to claim tax savings many would ignore or overlook.
Ensure you receive the correct advice; there are countless reasons why the tax savings have not been realised on historical expenditure yet it is assumed everything must have been claimed.
Speak to one of the Directors to discuss how to unlock the existing tax savings, or if related to current or future projects, how to maximise the accelerated 100% full expensing relief.