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Specialist Services >
 Capital Allowances
Capital allowances – the tax equivalent of depreciation – are one of the most valuable forms of tax relief for those investing in property, either as owner-occupiers or as landlords. Treasury figures released in 2007 revealed that a small reduction in the rate of plant allowances was sufficient to fund a 2% cut in the main rate of corporation tax.
However, capital allowances are rarely exploited to the full, particularly in the context of property acquisitions – most experts estimate that more than 90% of purchasers fail to claim the full tax relief.
The reason for this is that, on an acquisition, the amount qualifying for capital allowances must be determined by a ‘just apportionment’, which in turn requires land valuations, and building and plant cost reconstructions. General practice accountants and solicitors cannot be expected to have the required combination of tax training and surveying expertise.
In an attempt to improve this situation for our clients’ abacus has teamed up with The Capital Allowances Partnership LLP, arguably the UK’s leading specialists (www.cap-allow.com). The Capital Allowances Partnership LLP was formed in 2002, and has built up an impressive range of clients, from private individuals to major companies.
Their success is based on three key fundamentals:-
- Unrivalled technical ability – they write most of the published works on the subject, and lecture extensively around the UK;
- High levels of client service – reflected in a high proportion of repeat clients; and
- Practical, hands-on approach – all aspects of a project, including tax, accounting and surveying, are dealt with in-house by genuine specialists.
Click here for a number of case studies highlighting projects where specialist input is essential.
Click here for answers to frequently asked questions.
Click here to contact your local abacus accountant for a free consultation.
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