If a property was purchased prior to April 2014, there is no time restriction for retrospective claims which means that you can start reviewing your property costs today and potentially unlock a significant tax benefit.
If a property was purchased after April 2014, there could be a 2-year time deadline from completion to claim these allowances. However, this 2-year deadline doesn’t always apply as it’s subject to a number of factors relating to the purchase. We actively encourage all transactions to be reviewed as quite often capital allowances can be claimed after 2 years have passed.
If you have carried out property improvements to a freehold property, or even a property that’s leased, there is no time restriction in claiming.