Who Can Claim Allowances?
UK taxpayers engaged in a qualifying activity can claim capital allowances on property. These include:
- Companies
- Sole traders and partnerships
- Commercial landlords
- Owners of commercial property
- Furnished holiday property in UKK/EEA
Value Negotiation Conflicts
If the parties can’t agree on the value of the embedded fixtures & fittings (not Chattels), they can make an application to the First-Tier Tribunal. They must make this request within two years of the completion of the sale. The tribunal will extend the normal deadline to allow enough time to make their decision.
Benefit From Your Elections
If you recently bought a commercial property, did you look into capital allowances? If not, you’re probably sitting on significant tax savings that are at risk of being lost. Why pay more tax if you don’t have to?
Contact Capital Allowance Review Service, and get a free initial assessment! There are no upfront costs. We deal with HMRC so you don’t have to.
Let us analyse your tax position and handle your Section 198 Election today!
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