Looking to invest in your business in 2022? Considerable tax savings can be obtained for commercial property expenditure by maximising capital allowances claims.
Can I claim?

All companies and individuals, irrespective of whether they are a UK resident or not, can make cash tax savings. As long as you pay UK income tax or corporate tax, the tax relief identified can be offset against taxable profits.

What can I make a claim on?

Capital allowances are available on expenditure incurred on qualifying assets in all types of commercial property. A few examples of the type of work our capital allowances team undertake include:

  • Commercial property acquisitions
  • Major new builds, extensions, fit outs and refurbishments
  • Remediation of contaminated land
  • The purchase and renovation of furnished holiday lets
Super capital allowances

Going forward, enhanced tax relief is available through the new ‘super capital allowances’, which was introduced in March 2021 and permits 130% or 50% relief for certain qualifying assets, up until 31 March 2023.

Get in touch

Our team can identify potential or retrospective expenditure in your business eligible for capital allowances, and, in turn, minimise the cost of assets and enhance the return of your investments.

To find out more, call us on 01788 539000 or 0116 261 0061, or reach us at [email protected].

Read more of Magma’s blog articles here: https://www.magma.co.uk/blog