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MAPS Commercial 15 Duke Street Chelmsford CM1 1HL www.mapscommercial.co.uk

Capital Allowances Capital Allowances

Commercial Commercial Commercial Commercial

Capital Allowances

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90% of commercial property owners either do not claim any of their entitled tax relief, or are under claiming.

This relief is real money being wasted. Introduction Capital Allowances are a tax relief that is offset against income or corporation tax payable. The allowance is provided against capital expenditure made on plant and machinery. It represents a real cash saving, but it is a voluntary claim and is therefore in most cases either missed or not maximised. The real opportunity lies in commercial property acquisition. A part of the purchase price can be made by a specialist to identify the amount attributed to plant & machinery. Many businesses buy properties and do not realise they can claim the capital allowance on these acquisitions – in some cases where there is a high plant content up to 40% of the purchase price can qualify for tax relief. This is a real value added service which can be provided alongside property finance. Retrospective claims can also be made going back to historical purchases made many years ago, enabling you to take advantage of the opportunity even after the purchase has completed.

How does it work?

Capital allowance claims are a very specialist area, and require property surveying skills in order to correctly identify and maximise your entitlement.

We use a leading specialist claims advisor. We will conduct an initial appraisal with you to explain the scheme and ascertain whether you could be eligible for a Capital Allowance claim. We then arrange for a site visit by a specialist who will conduct a full survey of your property. They will carry out all of the necessary work with minimum disruption, delivering a detailed claim report for HMRC which generates a tax repayment or future saving.

How much does it cost?

You pay nothing to investigate whether you are eligible for a Capital Allowance claim. The fee is based on a percentage of the potential tax savings and only payable on completion of the claim. This means that you pay for nothing upfront and then only where there are real savings to be made.

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Benefits

• Managing Cash Flow - We understand how vital cash flow is, especially in these challenging economic conditions. Correctly claiming capital allowances will result in either less tax being paid on your next tax return or allow you to make a claim for refund.

• Hassle free - We carry out all of the work and deliver a fully documented capital allowance claim, liaising directly with your accountant if required.

• No win – No fee If there are no potential Capital Allowances to be claimed, our services will be absolutely free.

• Cost effective - The fee is a % of the tax savings generated – therefore it is more than self funding!

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Wouldn’t my accountant have already done this? Possibly, but many accountants recognise they are generalists and welcome working with specialists in this field. They do not possess the necessary valuation and surveying skills needed therefore the opportunity is often missed or not maximised. Allowances are generated when a business client builds or acquires commercial property. The amount of plant contained within the build or acquired property is the key to maximising the relief. Plant can include diverse elements that are not always obvious – i.e. partitioning, air conditioning, piping, cabling, sanitary appliances, water systems, lifts, electrical systems, fire systems etc. Plant fixtures inherent in the fabric of buildings are often missed or understated.

I bought the premises five years ago, it’s too late now.

Not so, it is possible to claim the allowances retrospectively. In some cases up to 6 years. OK, so what now? ,

Give us a call on 01245 359536 or email us at enquiries@themaps.co.uk for an initial chat.