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Claiming capital allowances is a statutory right. The benefits of claiming this relief for you are that it will improve the cash flow of your business, lower risk for those supplying loans to the business and may be used as a means to preserve and enhance the value of your asset.
Commercial landlords and property investors who are subject to either UK income or corporation tax are able to claim property tax relief using capital allowances in the following circumstances:
- The acquisition of the property
- The refurbishment or and fitting out of the property
- The lease of the property to a business
In addition, should you be considering taking on or granting a long funding lease, a sale and leaseback transaction or granting a long leasehold interest out of a heritable title or freehold interest, these property transactions will have implications on the amount of Capital Allowances that can be claimed.
Cavetta Consulting, can guide you through the capital allowances pitfalls, around these types of transactions.