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Are You Claiming All You Can?
You may have read over recent years that it is possible to make what is called a “capital allowances claim” in respect of fixtures and fittings that are integral to your building. Although there have been some changes to capital allowances legislation recently, you will be pleased to hear that this opportunity is still very much alive!
If you haven’t already carried this out, no doubt you will have heard about it, either through the caring press or by cold call. If you haven’t explored the possibility of such a claim, we recommend that you do so. It could result in a substantial tax saving which would no doubt be welcome in the current economic climate.
Together with changes made to the capital allowances regime in the 2009 budget (see the "Budget 2009 Update - Planning On Spending On Fixtures, Fittings and Equipment?" article), there are still many opportunities to maximise the tax savings available from capital allowances.
Hazlewoods have significant experience in advising clients in this field.
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