Capital Allowances

What are Capital Allowances?

Capital allowances save money – they are the only means of providing tax relief on capital expenditure incurred by tax payers on commercial property projects.

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We are committed to employing all the information and expertise at our disposal to maximise the Capital Allowances relief for our clients.

We have an impeccable track record of maximising Capital Allowances for clients on all capex projects, be it, construction, fit-out or refurbishment works and are best placed to help raise the Capital Allowances opportunities available.

Capital Expenditure Projects

Commercial Property Purchases

Furnished Holiday Lets

Expenditure On Emergency Rooms

Capital Expenditure Projects

When constructing, altering or refurbishing a commercial building, a substantial amount of the expenditure incurred will be eligible for capital allowances relief. As the name suggests, the expenditure must be ‘capital’ in nature to qualify for the tax relief.

We believe that all projects benefit from having senior personnel working on them from start to finish. We have an impeccable track record of maximising Capital Allowances for clients on all capex projects, be it, construction, fit-out or refurbishment works and are best placed to help raise the Capital Allowances opportunities available.

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Eriks Industrial Services

Commercial Property Purchases

We believe that it is important to be involved as early as possible, in order to understand the design requirements and identify opportunities, without compromising the function or aesthetic of the design. By doing this, we are able to add further benefit to a claim. We can do this effectively by talking regularly with you and the rest of the project team to embed ourselves in your project and fully understand every detail. This way, we will also be able to stay on top of all project variations, both in cost and scope.

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Dove Rock, Cornwall

Furnished Holiday Lets

Wandsworth were able to assist our client by providing both a purchase claim and capex claim for a furnished holiday let property in Looe, Cornwall.

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Our Clients

Services

Capital Expenditure Projects

For capital expenditure projects: We believe that all projects benefit from having senior personnel working on them from start to finish. We have an impeccable track record of maximising Capital Allowances for clients on all capex projects, be it, construction, fit-out or refurbishment. for Commercial property purchases: Purchasing property that was previously owned, and capital allowances were not fully claimed by a previous owner, may give rise to unclaimed allowances being "inherited" or transferred.

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Services

Commercial Property Property Purchases

Not all property investors realise that capital allowances can be claimed on purchased property. Consequently, many purchasers do not even think about capital allowances at all. We will work with you and your solicitor to ensure you maximise the benefit whether you are buying or selling.

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Services

Research and Development

If your company and the project you are working on meeting the relevant criteria, it is possible for you to claim tax relief on the revenue expenditure (the running costs of your business) and some capitalised revenue expenditure you have incurred in each accounting period.

Research and Development

Services

Furnished Holiday Lets

We have helped many clients save money on both purchasing and refurbishing Furnished Holiday Lettings (FHLs). We analyse all the costs in detail and work with you, your accountant and solicitors to maximise the return for you.

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The services provided were great and we achieved a fantastic result on both our capital allowances and research and development claims. Their advice and insight has been really helpful on our recent projects. We would be more than happy to recommend them.

David Foulis

FD, Honest Burgers

We engaged Wandsworth to complete a comprehensive review of our Capital Allowances position. A process that can be resource and time intensive for businesses internally, was handled with experience, expertise and skill. Wandsworth were able to assist us to maximise our potential tax relief with their specialist knowledge in this area. Throughout the process the communication was excellent and the team were a pleasure to work with.

Julia Gosling

Kerry Food Group

Wandsworth are standout advisors in this specialist area. Their advice greatly benefits our clients and further enhances our comprehensive range of services for building owners redeveloping their properties.

Sean Cleaver

Corep

The team at Wandsworth have repeatedly helped us to compile our R&D submissions. They have built an in-depth understanding of our organisation, expertly deploying their specialism, working directly with colleagues across our business, to ensure compliance with the latest legislation.

Mick Holland

CPO, Eriks Industrial Services

Capital Allowances FAQ'S

Read our FAQ's to get the answers you need right now.

What are capital allowances?

Capital allowances are the only means of providing tax relief for capital expenditure incurred by both UK and overseas taxpayers on commercial property. They act as an incentive to invest by saving money for these businesses. They do this by offsetting tax on profits which would otherwise be due by the number of allowances claimed. Capital allowances, therefore, reduce taxable profits for companies, businesses and individuals.

What is the real benefit?

The benefit is simple – we can help reduce your tax liability and therefore you pay a lot less tax. The ‘hidden’ benefit is the peace of mind in knowing that your claim is being prepared by an expert who will produce a detailed report on an open book basis in a technically robust fashion so that you do not have to worry about this part of your tax computation.

How much will it cost me?

Our fees are based on the level of allowances identified and will always be less than the first year tax benefit. If we can’t or won’t save any tax we will not charge you a fee.

Why do they exist?

They act as an incentive for businesses to keep investing in property and other business assets. Capital allowances provide tax relief for capital expenditure on items of plant and machinery. Depreciation of fixed assets is not-allowable and not deducted from taxable profits, so another tax relief is available on this expenditure. Capital allowances were brought in to give relief against tax and help keep the economy healthy.