The statement “nothing is certain but death and taxes” applies to most people, unless you’re with CBHC. It’s our job to make sure you benefit from every relief incentive out there. Take Capital Allowances for example, you could be missing out on several years worth of unclaimed tax relief locked within your building. Click here to find out more…
As a business you can claim tax relief, called a capital allowance, on certain investments relating to your commercial property. This can include purchases such as plant and machinery, or even work done to the building itself – for example, converting the space above commercial premises into flats for rental purposes. This means you can deduct a proportion of these costs from your taxable profits, and reduce your tax bill quite considerably – possibly by thousands of pounds, or even more. Surprised? Well, that’s because this is one of the lesser-known methods of reducing a business’s tax burden.
By working with our surveyor partner, it is possible for us to release up to 35% of the cost of your property for tax relief, by indentifying non-integral features that can be released into the capital allowance pool, and by ensuring that the cost of the building is realistically stated on the company balance sheet – often this figure remains fixed until the point of sale, which represents a missed opportunity in terms of reducing your tax bill.
Unlike most large firms offering such a service, we don’t charge a percentage of the tax saved – which can be substantial – instead we work on a fixed fee basis, ensuring you get maximum benefit from the funds recouped. Also, as it’s possible to do make a retrospective claim covering up to 15 years previous to the current date, you could not only save on your next tax bill, but receive a surprisingly significant sum of money back into your coffers.
Even if you think you’ve exploited every opportunity in the past, our expert tax team may be able to identify more opportunities to claim relief, so why not drop them a line?
