Capital allowances exploring the myths

Capital allowances - challenging the myths

Capital allowances can offer significant benefits and cash tax savings for businesses. Despite this, many commercial property owners and occupiers miss out on these benefits because of poor advice or a lack of understanding.

We have found that there are many common myths surrounding capital allowances, and we explore some of those key myths in our series below.

Capital allowances myth one

Myth one

'We have no cost breakdown for our expenditure, so we can’t make a capital allowance claim'

Having no cost breakdown doesn’t have to stop you making a capital allowance claim. Find out how we’ve helped other companies overcome this barrier to making a claim on qualifying expenditure in our myth-busting guide.

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Capital allowances myth two

Myth two

'My advisor has already made a capital allowance claim'

Just because you’ve previously made a capital allowance claim, doesn’t mean there aren’t still further opportunities to make claims. Our myth-busting guide explains where you could be missing out on possible capital allowance claims.

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Capital allowances myth three

Myth three

'We can’t make a capital allowance claim because we’re out of time'

You’re not restricted by time when it comes to making a capital allowance claim. It is possible to go back and make claims from when you first purchased the property. In our myth-busting guide we explore this common myth further.

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Capital allowances myth four

Myth four

'We’re loss making so we can’t benefit from making a capital allowance claim'

If your company is loss making, don’t write off capital allowance tax relief. Our myth-busting guide looks into how the flexibility of capital allowances means there are still options available that could provide a beneficial cash-flow boost.

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Capital allowances myth five

Myth five

'It’s only a timing benefit that will be clawed back when we sell the property'

One of the most common misconceptions is that making a capital allowance claim will reduce a building’s base cost for capital gains purposes. We look at why this isn’t always the case in our myth-busting guide.

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Capital allowances myth six

Myth six

'The previous owner of the property has claimed all the capital allowances'

There are many reasons why all the capital allowances might not have been claimed. In our myth-busting guide, we look at some of the scenarios where you could potentially make another capital allowance claim even if it’s already happened.

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