Your specialist in
capital allowances tax relief and R&D tax credits!
Experts in capital allowances & property tax relief
At Wandsworth, we specialize in capital allowance claims, helping clients unlock hidden value in property. Our expert team ensures qualifying expenditure is identified and maximized, using deep knowledge of tax efficiency and property structuring. We take a strategic approach to every claim, ensuring investors gain the full financial benefit with ease.
At Wandsworth, our Chartered Tax Advisors specialize in maximizing unclaimed capital allowances and structuring property portfolios efficiently. They assess your tax position, identify potential refunds, and explore Group or Sideways Relief. Beyond that, we ensure your allowances enhance both your current and future tax strategy for long-term financial growth.
At Wandsworth, our Chartered Accountants apply meticulous due diligence to capital allowance claims, analyzing Accounts, Tax Returns, Repairs & Renewals, and Fixtures & Fittings to ensure accuracy in HMRC submissions. We also provide a full range of accountancy services to support your business growth. Discover how Wandsworth can assist you today.
The tax rules for Furnished Holiday Let (FHL) businesses is set to undergo a major shift, with HMRC recently confirming the abolition of the FHL tax regime. Effective April 2025, this change will bring about new rules for property businesses.
Here’s a breakdown of what this means and why you should act now.
HMRC has clarified how the changes will affect FHL businesses:
The upcoming changes may feel overwhelming, but there’s still time to act. Our team of experts can guide you through assessing your capital allowances and planning strategically to make the most of the current FHL regime before it ends.
Capital allowances are a tax relief that can be claimed for property improvement or development. When you buy or improve a commercial property, HMRC allows you to use some of the money you have invested to set against your tax bill.
Plant and machinery and integral features are two of the main reliefs that make up capital allowances. Plant and machinery is equipment or apparatus used for running your business and can include fire doors, lighting and data points.
Integral features are the necessary fixtures for your building which can include heating installations and air conditioning.
They are the only means of providing tax relief on capital expenditure incurred by tax payers on commercial property projects Any expenditure on commercial property, be it a refurbishment, fit out, a purchase or a new build project, can give rise to an opportunity to claim allowances.
Capital Allowances can be worth as much as 25% of a projects value as a cash benefit.
Below are some example savings you can make with capital allowances:
Plant & Machinery: 18% of the total costs. So if your Fire Alarm system costs £2,000, the allowances for the first year would be £360.
Integral Features: 6% of your total costs. So if your electrical rewiring costs £5,000, the allowances for the first year would be £300.
We’ve broken down below for you some guidance on who can and can’t claim capital allowances.
Who Can Claim: Commercial Property Owners or Long Lease Holders or those paying UK Corporation or Personal Tax, but to do so the property must be part of a qualifying activity, such as trade and professions An overseas property business or furnished holiday let in the UK or European Economic Area would also be viable for a claim.
Claims Can’t Be Made By: Pension Fund Property Owners, Charitable organisations who own property, National & Local Government-owned properties, non-UK tax payers or companies trading property as stock.
We will amend your tax return and resubmit to HMRC, this process is completed with our Chartered Accountants and a final report will be prepared and issued to you.
Alongside your Capital Allowance claim our relationship doesn’t need to end there. We can analyse your current tax structure and review the most efficient way for you to proceed with your property portfolio offering you a wide range of Accountancy and Legal advice.