Capital Allowances
New Tax Saving Opportunities for
Business Owners & Property Investors
Capital allowances can reduce your tax bill significantly when you spend money on property, cars, vans, computers and literally thousands of other business assets.
However, big changes to the capital allowances rules are coming soon. These will affect all business owners and many property investors.
If you own certain types of property you can obtain tax relief on all the existing or new ‘integral features’ and other fixtures – plumbing, boilers and radiators, air conditioning, wiring, lighting, bathroom fixtures, kitchen appliances, curtains and blinds, fire alarms and burglar alarms etc …Even swimming pools can qualify!
Literally millions of pounds worth of property capital allowances have gone unclaimed. Backdated claims can be made, going back to almost any point in the past… but these have to be maximised as soon as possible.
This guide explains what you must do NOW to lock in a huge number of tax savings and how to enjoy more tax relief in the years ahead.
It’s essential reading for:
- All company owners
- All sole traders and partnerships
- All property investors and landlords, in particular those who own or plan to buy:
- Commercial property
- Furnished holiday lets
- Houses in multiple occupation (HMOs)
- Self-contained flats with communal areas
- Anyone involved in property development/renovation
- Accountants, chartered surveyors and other professionals
What Information is Contained in the Guide?
The Changes
- A plain English guide to ALL the capital allowances available to business owners and property investors.
- … including 100% tax relief from the annual investment allowance, enhanced capital allowances, the business premises renovation allowance, flat conversion allowances, spending in enterprise zones etc.
- The changes that will see these tax reliefs reduced or scrapped.
- Important transitional rules – a must read if you want to enjoy 100% tax relief this year.
- How to save large sums of tax by taking action before the changes.
- … including how one business owner will save £33,904 in tax.
Backdated Capital Allowances Claims
- How to make backdated claims and recover missing tax relief.
- … including one business owner making a backdated claim of £48,800.
The Future
- Clever tax saving strategies that will help you in the years ahead.
- … including how one business owner will save up to £8,296 in tax by using lesser-known capital allowances, making ‘short-life asset elections’ and allocating the reduced annual investment allowance to the right type of assets.
- How you will be able to save tax in future by spreading business and property spending over more than one year.
- … including how one business owner will save £7,110 in tax by doing exactly this.
- Six solutions for getting extra tax relief for cars.
Property Investors
The second major set of changes will restrict capital allowances claims on property fixtures and ‘integral features’. The guide explains what you must do now and in the years ahead.
- Lists of ALL the capital allowances that can be claimed by owners of:
- Commercial property
- Furnished holiday lets
- Houses in multiple occupation (HMOs)
- Self-contained flats with communal areas
- Clear advice for existing owners of these properties who want to make backdated capital allowances claims or protect the value of their properties.
- Clear advice for property buyers to protect their ability to claim capital allowances.
- How some HMO landlords could get a substantial tax refund from HMRC.
- Why you should act quickly if you are renovating old residential property.
Capital Allowances is currently out of print.
However, all of the information pertinent to property investors is contained in How to Save Property Tax which is completely up to date for the current tax year. This guide also contains a huge amount of income tax planning information.
For business owners looking for info on capital allowances we recommend our guide Small Business Tax Saving Tactics.
