Unclaimed capital allowance specialists
It’s estimated that more than 90% of businesses fail to claim the full capital allowances tax relief on buildings that they own or rent. This figure amounts to a staggering £70 billion being left unclaimed and is a potential source of thousands to each organisation. While it may be complex area of accounting, we at JR Accounts will be able to help you better understand capital allowance tax relief and how it can benefit you.
Capital allowance tax relief can be claimed on the following types of properties, and is often able to offset expenditure made through the use of such property elements as air conditioning, heating, lighting, security systems and more:
- Commercial
- Multi-unit residential
- Furnished holiday lets
- Those that are in the process of being improved or renovated
- Those that are in the process of being purchased or sold
Anything else I should know?
You can claim capital allowances on any equipment, machinery or vehicles (cars, vans or lorries) that are used for business purposes. The list of potential sources of relief is almost endless, but the complexity of calculating the associated costs often feels daunting. Through the services JR Accounts, you will be able to hand over responsibility for such calculations, freeing you up to focus on other aspects of your business. In fact, we’re here to ensure you receive the full benefit of capital allowances. Allow us to thoroughly assess all financial aspects of your business so that you don’t lose money whenever your tax returns are filed.
Get in touch with our Ilford accountants
If you have any questions about capital allowances, please don’t hesitate to contact our accountants in Ilford, Essex. We’ve a number of capital allowance experts that will be able to guide you through the potential sources of relief open to you. What’s more, they can often provide even a basic calculation of how much the relief is of value to you, so don’t hesitate to liaise with us now.
