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As a small business undertaking capital investment in property either in the form of an acquisition, refurbishment or fitting out of a business premises, it is important for your business to realise a return on that investment as soon as possible.
In the desire to generate income from a new business, valuable property tax relief is often forgotten about and left unclaimed. Cavetta Consulting, a specialist property tax advisor, can assist your small business access the potential cash flow benefits, vital for any small business.
The sections and brochures below, show the benefits of capital allowances in the case of a number of small business which incur capital expenditure.
Most small businesses operate within the retail sector. Indeed, the retail sector is probably the biggest commercial sectors that we come across. Whether the business is a newsagent or a nail studio all these businesses can still benefit from tax relief on their commercial property interests.
The food and drink sector is one in which variety is the key word. Whether you are a coffee shop, cafe, gastro pub or five star restaurant, all of these businesses may be able to benefit from generous tax reliefs in the UK tax system. In particular, the first £200,000 of qualifying items receive a 100% tax deduction resulting in a minimum £40,000 cash benefit.
The gym and fitness industry has rapidly expanded over the last 10 years. Gyms are not only contained in purpose built facilities, but also now common place in retail parks and city centres.
In addition, many fitness studios also have catering and retail facilities. The initial costs of setting up a gym, fitness studio or leisure facility are always high.
Opening a new medical service is often the biggest step that many practitioners will take in their career. When starting a new practice, the first priority is often to make sure that the practice meets all the necessary statutory regulations.
A new medical practice will incur costs in fitting out their new surgery or refurbishing and existing property to meet the specific needs of their business. Where the property is leased the landlord may provide some fixtures, fittings and common services. However, in most circumstances a new owner or tenant replaces some or all of these fixtures as part of the fit out. Similarly, a property that is purchased may similarly contain fixtures and fittings that are sometimes missed when making capital allowances claims.
A business occupying a new office space may incur costs in fitting out that office to meet the specific needs of their business. Where the property is leased the landlord may provide some fixtures, fittings and common services.
A property that is purchased may similarly contain fixtures and fittings. However, in most circumstances a new owner or tenant replaces some or all of these fixtures as part of the fit out.