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Downsides of delay
KEY POINTS
- Owners of commercial property will be asked to address capital allowances issues when they sell.
- By claiming allowances early owners can gain a cash flow advantage.
- Earlier claims can also offer permanent tax savings as well as other commercial advantages
Most commercial property owners and their advisers are aware that capital allowances can offer significant tax savings. Although capital allowances generally are well understood – for example in relation to cars and to office equipment – there is a recognition that those for property fixtures can be complex.
Since it may be necessary to obtain outside advice – specialist valuers and surveyors and possibly specialist tax expertise – it is often tempting to ignore opportunities to claim capital allowances.
Such an approach may do a disservice to clients for three reasons. First capital...
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