We specialise in calculating all available Capital Allowances to ensure your business claims the maximum relief available under UK tax law. This includes Writing Down Allowances (WDA), Annual Investment Allowance (AIA) and First-Year Allowances (FYA). Our detailed approach ensures no qualifying expenditure is overlooked.
Our approach involves the following:
Our experts perform a detailed analysis of your capital expenditure, including works on the building, plant and machinery, integral features and other fixtures and fittings to identify amounts which qualify for Capital Allowances tax relief. This includes both current year and historic expenditure, where it is still possible to make claims.
Expenditure can effectively fall within different categories for Capital Allowance purposes. Some items will qualify for a full write down (i.e. AIA and FYA), whilst others will qualify for WDAs. However, there are 2 different categories of WDA’s depending on the nature of the expenditure. It is therefore imperative that careful analysis is undertaken, to ensure that your claim is robust.
We optimise the use of the AIA and FYA to accelerate relief into the earliest available tax periods, reducing your tax bill as soon as possible, or by increasing your losses which could be used to reduce tax liabilities in the future.
We produce a comprehensive report which evidences our findings. This includes an analysis of the expenditure which qualifies for Capital Allowances, and the different categories which the expenditure falls within. The report could be submitted to HMRC along with the company tax return, or it could be produced in the event of an enquiry. Our reports ensure full transparency, clarity and ease of review for your accountant or tax advisor.
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