Tax relief on installations

[PiratePaul]

One of my clients wants to claim back tax relief through using his capital allowance entitlement on installations such as his new air con and fire alarm system. Anybody know a good reputable adviser that they can recommend?

 

[Knobhead]

Why doesn’t he ask his accountant?

 

[PiratePaul]

I asked the same, Tony, but from what I can gather his accountant didn't appear to have the detailed knowledge that my client needed. Apparently there are capital allowance specialists in the UK, but I personally have never used them so don't know what they can offer that an accountant can't.

 

[IQ Electrical]

Wow, an 'accountant' not versed in Capital Allowance, it's like finding an electrician that can't do external lighting, I'd be dropping him/her like the proverbial hot spud!

Hare's the rough criteria:

To claim for qualifying capital expenditure incurred on conversion, renovation or repairs of/to a commercial building or structure, or part of one, it must:

1) Be in an Assisted Area - an area which is considered to be disadvantaged and eligible for regional aid.

2) Not have been used for any trading or other business activity, or as offices, for at least one year before the works began.

3) Be available for business or commercial use after the works are complete - but not for farming, fisheries, aquaculture, the manufacture of substitute milk products or synthetic fibres, shipbuilding, steel or coal industries.

Quite prohibitive really!