Capital Allowance Service What are capital allowances? Capital allowances are a form of tax-approved depreciation that allow you to reduce your tax bill by claiming tax relief on qualifying capital costs. Some examples of capital costs may include: • • • •
Installation of new kitchens, bathrooms, central heating etc Construction of property Property fit-out Machinery.
What is our capital allowance service? Through conversations, site visits and expenditure reviews, we work with you to help identify costs that can qualify for capital allowances – thereby reducing your tax bill. How can our capital allowance service benefit you? Capital allowances are a complex area of taxation. A tax specialist can help in the following ways: • • • •
Potential to identify eligible expenditure that would otherwise have received no tax relief – known as non-qualifying Potential to identify expenditure that would receive 100% tax relief Providing support to help ensure your capital allowance claim is robust in the event of an HMRC enquiry, reducing the likelihood of mistakes and/or fines A high standard of service - we are regulated by the Institute of Chartered Accountants in England and Wales.
Next steps - Get in touch for a chat with our team. Callum Anderson capitalallowances@om.uk 01935 709416 Richard Sturgeon capitalallowances@om.uk 01935 709439
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