As a property owner subject to either UK Income Tax or Corporation Tax and holding property as a capital asset you may be to claim property tax relief in the following circumstances:

• The acquisition of the property;
• The fit out of the property;
• The refurbishment or redevelopment of the property or
• Dealing with contamination.

To maximise your capital allowances position you should consider capital allowances at an early stage of a transaction or redevelopment. Doing this will allow you to plan and enhance the tax relief available to you.

Claiming capital allowances is your statutory right! The benefits of claiming this relief to you are that not only will it will improve the cash flow of your business, lower risk for those supplying loans to the business but may also be used as a means to preserve and enhance the value of your asset.

Cavetta Consulting, can guide you through the capital allowances advantages and pitfalls, around these types of transactions. For more information on capital allowances for owner occupiers download our guide.