jaimelumsden@caadvisoryservices.co.uk

Did you know that a specialist tax relief is available for office refurbishments?

It’s called Capital Allowances for Property Embedded Fixture and Fittings and, it’s often missed by Accountants.

When your office is upgraded, extended or enhanced, all the items used such as new IT items, wiring, central heating, toilets, kitchen …… all of these can be included in Capital Allowances and they help reduce your tax bill. Their value can be 40% or more of your bill.

These are often missed because the Builder or Office Improver does not itemise them;  but rather just invoices you for the overall work. The individual items get lost in the total that you’ve been billed.

Your external Accountants in most cases, does not advise on Capital Allowances for PEFFS. If challenged, then they will ask for support from specialists like CA Advisory Services.  We send in our Surveyor who values all of these and we then prepare a report for HMRC which asks for appropriate tax relief.

Have you recently had your offices extended or improved? Why not ask your Accountant “did you claim for Capital Allowances covering property embedded fixtures and fittings”?

If the answer is no, then challenge this. There’s money lying there waiting to be claimed back from HMRC.