Our chartered tax advisers can help businesses unlock valuable tax savings by identifying and claiming eligible capital allowances on qualifying assets, ensuring compliance with HMRC regulations while maximising financial efficiency and cash flow. Our Nottingham team can help you no matter wherever you are in the country.
Capital allowances provide immediate tax relief on capital expenditure and can provide businesses with some substantial cash savings. This is a complex area, covering everything from computers to commercial property extensions. Many businesses miss out on claiming their full entitlement to capital allowances due to a lack of understanding over what may or may not be eligible for a claim.
Contrary to popular belief, there is no time limit for claiming capital allowances. Reviews of historic expenditure can therefore turn up some welcome additional tax savings. Capital allowances can be claimed by all types of businesses, including landlords in certain circumstances.
Page Kirk specialises in advising on making capital allowance claims for commercial properties and can help property owners or leaseholders identify qualifying expenditures on fixtures and fittings. This work can be carried out on existing buildings, where no claim has previously been made, as well as on construction projects and as part of the purchase or sale process, including advice on the drafting and agreement of S198 claims between buyers and sellers. We can also assist in making structures and building allowance (SBA) claims where capital allowances are unavailable.
Where businesses decontaminate land that they weren’t responsible for contaminating, a claim can be made to obtain tax relief on 150% of the expenditure incurred. Decontamination can include – but is not limited to – things such as the removal of asbestos or Japanese knotweed. This can be a useful investment strategy and allowance claim to help invest in maintaining and improving building assets, as well as reducing tax obligations.
With capital allowances changing on a frequent basis, it’s crucial to consult and obtain the support of a capital allowance specialist. Page Kirk has a team of specialists on hand to support your business in identifying the applicable allowances, as well as offering support for previous potentially missed allowances and strategic insight for future planning. The administration required for capital allowances can be complicated and time-consuming, but Page Kirk can complete all the necessary work on your behalf. We can ensure that you are working in the most tax-efficient and compliant way possible to ensure you don’t over-pay HMRC and claim all of allowances you’re entitled to.
From ensuring that you comply with your statutory requirements, to navigating the scaling-up of your business, through to effective profit extraction and dealing with your tax affairs, Page Kirk Nottingham accountants are here for you every step of the way
Page Kirk is a leading accountancy practice in Nottingham, but we service clients across the country, so wherever you are based, we can help. We will assign you an accountant to assist you in growing your business and improving its efficiency. Contact us to find out how we can help you today.
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