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Capital Allowances

Capital Allowances

It pays to know your onions where tax is concerned.

If you pay UK personal or corporation tax, own a commercial property and paid at least £200,000 for it, there is a 94% chance that you have unclaimed Capital Allowances. What this means is that these allowances can be used to reduce your tax liability or potentially get a tax refund. No limit how far back the purchase took place. This is a statute right set out in 1878 and is every commercial property owner’s right to claim.

CFS acts as agents for a leading provider in this market who work with you and your accountant to identify unclaimed capital allowances on plant & machinery that is hidden and inherent within the fabric of commercial property, which can be used to reduce your tax bill. No upfront costs.

A recent Residential Care Home case resulted in unclaimed capital allowances of £385,000 for one client.

In a recent Office building application unclaimed capital allowances of £889,630 were found.

Both these clients will receive tax relief on these amounts at their highest tax rate for the lifetime of the allowances.