Landlords, especially those operating as a business (for example, a furnished holiday let), may be eligible to claim Capital Allowances on certain assets used in their property business, such as furniture and fittings. However, residential properties typically do not qualify for Capital Allowances. Take a look at a landlord case study.
Capital Allowances are tax deductions that businesses can claim on certain types of expenditure for commercial properties. These include machinery, and equipment that are used for business purposes. These allowances enable businesses to offset the cost of these assets against their taxable profits, reducing their overall tax liability. Understanding and maximising capital allowances can significantly benefit businesses by improving cash flow and reducing their tax burden.
However, not everyone is familiar with the rules, regulations and eligibility surrounding Capital Allowances. Explore our FAQs to learn more
