If you own a Furnished Holiday Let (FHL) or a UK-Based Commercial Building you are entitled to claim capital allowance tax relief against the plant and machinery contained in these buildings as set out in the 2001 Capital Allowance Act.

This is not a loophole - Capital Allowances are there to be legitimately claimed.

This is a specialist area which requires both tax law and building surveying expertise which is why HMRC believe that only 4% of those entitled to make a claim actually do so properly.

Furnished Holiday Lets

Tax Benefits to FHL Owners can be considerable.

Furnished Holiday Lets are classed as a trading businesses for tax purposes.

Large capital allowance claims (approximately 20-25% of the original property value) usually result in accounting losses which means to the owner that any tax paid on other income, such as PAYE, can be claimed back.

UK Commercial Property

Many Commercial property owners are missing out and are paying too much tax.

Expect your accountant to have applied and maximised your capital allowance claims?

Ask yourself:
Has your building been surveyed?
Has any one established under current case law what plant and materials relate to your industry sector?

If the answers to these questions are "No", then you’re missing the opportunity to offset capital allowances against your profit and you could be paying too much tax.

Latest News

Capital Allowances for Fixtures:The New Rules

New Legislation "Effect of Changes in Ownership of a Fixture". Section 187A Capital Allowance Act 2001.

New legislation concerning plant and machinery fixtures in commercial buildings from April 1st 2012 or April 6th 2012 (for corporation tax and income tax purposes respectively) now mean that capital allowance tax reliefs have to be dealt with at the point of transfer of ownership of the property. Failure to do so in certain scenarios may lead to the new buyer losing some or all rights to these valuable tax reliefs.

How do we work?

Wilmslow Tax Solutions works with your accountant to provide the necessary building reports and technical accounting skills to maximise your capital allowance claims to approved HMRC guidelines.

Find out more about the process...

Questions?

Our Frequently Asked Questions section answers most of the common enquiries we are asked about Capital Allowance claims.

Our Promise...

If we can’t find more than £25,000 of capital allowance claims we will not charge a fee!

If you want to know more about our pricing, please contact us.

Wilmslow Tax Solutions is the rebranded name of Capital Allowance Claims Ltd.