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Over the last 10 years successive governments have replaced a lot of outdated public buildings through the use of Private Finance Initiatives (PFI Schemes). The schemes have a number of complexities however one benefit where the “composite trader” route is not used is that the company that owns the property can claim the benefit of Capital Allowances in relation to the fixtures of the property.
This is a particularly useful mechanism in making this type of development feasible. Buildings procured under PFI schemes will usually have a high level of mechanical and electrical installations included as part of the project as well as bespoke elements that are required by the incoming public tenant.
Strength of experience
The directors of Cavetta Consulting have worked with clients developing these bespoke properties. We can offer experience that will help to maximise your claim. On new build projects we have a track record of claiming 100% Enhanced Capital Allowances, whilst on acquisitions we can help you through the difficulties of the new fixtures rules that came into force in 2014.
Being a with a resource of 30 years of experience we are able to give our clients the benefit of this. However the main advantage of working with us is that we can offer a more personal service. As we are not a major corporation we have the advantage that we can take time to ask questions, understand your needs and take personal pride in saving our client’s money. We don’t charge for initial reviews or phone calls, and we don’t get involved unless we can add value to a business.
Our philosophy at Cavetta Consulting is to work with people. We work with, not instead of your accountant. In addition, we do not get involved with a project if we believe that the accountant will be able to pick up the qualifying items without our help.
Once appointed, we work with your advisors. We ask the questions, obtain the information with very little direct involvement or direction from the client. In addition, we take great care to talk with your accountant to make sure that all the figures produced are consistent with your financial statements.
Commercial landlords and property investors who are subject to either UK income or corporation tax are able to claim property tax relief 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
Considering capital allowances at an early stage in either a transaction, redevelopment, or lease incentive will provide you with the opportunity to maximise your capital allowances position.
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.