Many commercial property owners wrongly assume that their accountant has already claimed all available tax reliefs. But when it comes to capital allowances, this assumption can be costly.
Capital allowances are a form of tax relief that enables commercial property owners to offset the cost of embedded fixtures and fittings such as heating systems, electrical wiring and sanitary ware against their taxable profits. However, capital allowances claims require specialist surveying expertise, not just accountancy knowledge.
Most accountants are highly skilled in preparing tax returns and financial statements, but capital allowances involve the identification and valuation of qualifying assets within a property. This is typically outside the scope of standard accountancy practice. That’s where capital allowances surveyors and experts come in.
Specialist surveyors conduct a forensic review of the property, including detailed site surveys and cost analysis, to uncover allowances that may be buried within the original construction or fit-out costs. These claims often amount to tens or even hundreds of thousands in unclaimed tax relief. They are missed by accountants simply because they don’t have the technical tools to identify them.
Many accountants welcome collaboration with capital allowances specialists to ensure their clients maximise their tax savings. By working alongside qualified surveyors, they can unlock substantial cash rebates and long-term tax reductions for clients who own hotels, holiday lets, care homes, dental practices, offices and more.
If you’ve purchased, built or refurbished a commercial property, don’t leave potential tax savings on the table. A free capital allowances review from a qualified specialist can identify valuable claims that your accountant may have missed and significantly reduce your future tax liabilities.
