Capital allowances allow businesses to claim tax relief on qualifying assets such as equipment, machinery, vehicles and certain building improvements.
When claimed correctly, they can significantly reduce your taxable profits.
However, many businesses either miss opportunities to claim or do not claim the full relief they are entitled to. Our role is to identify those opportunities and ensure your claims are accurate and fully compliant with HMRC rules.
Practical advice to help you identify, calculate and claim the capital allowances available to your business. Here's how we help:
We review your business purchases and investments to identify assets that qualify for capital allowances, including those that may have been overlooked.
We ensure your claims make full use of available reliefs such as the Annual Investment Allowance and other relevant allowances.
We calculate the allowances correctly and include them within your tax returns, ensuring compliance with HMRC requirements.
Capital allowances are a form of tax relief that allows businesses to deduct the cost of certain assets from their taxable profits. Instead of deducting the full cost of an asset as a normal business expense, capital allowances provide structured tax relief over time or sometimes immediately depending on the type of allowance available.
They commonly apply to:
Equipment and machinery
Business vehicles
Office furniture and fixtures
Certain fixtures within commercial property
We have included some of the more frequent questions we get asked, but if you have a specific question, please get in touch. We would be more than happy to answer your questions.
Many business assets can qualify including machinery, equipment, office furniture, business vehicles and certain fixtures within commercial buildings. The exact relief available depends on the type of asset.
Yes. In some cases, elements within commercial buildings such as lighting, heating systems and electrical installations may qualify for capital allowances.
The Annual Investment Allowance allows businesses to claim tax relief on the full cost of qualifying assets up to a specified limit in the year the purchase is made.
