Property tax reliefs to increase a business’s cashflow

In these challenging times with cashflow pressure the claiming of capital allowances can help to generate significant tax cash savings. HMRC has allowed businesses to defer VAT and income tax payments but corporation tax will still represent a significant cost during this period.

Often overlooked is the entitlement for companies non-resident landlords partnerships and individuals to make a claim for capital allowances on historic expenditure as long as those qualifying assets are still owned. The following are some practical tips for business owners on making use of the available property tax incentives.

Tax incentives

Businesses can claim on property development expenditure including new builds refurbishments fit outs and second-hand acquisition expenditure. The capital allowances legislation provides for the ability to review historic property expenditure which has not been fully claimed...