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Capital allowances

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Jacqueline Morris


Commercial Property

Email Jacqueline

Lauren Astbury


Commercial Property

Email Lauren

Selling, purchasing or building a commercial property?

Recently purchased new assets for your business?

Capital allowances allow you to deduct qualifying expenditure from your taxable profit and can be a welcome relief to many businesses. With recent changes in the way capital allowances operate, getting the right advice is crucial.

You can claim capital allowances when you buy an asset, for example, machinery or equipment for your business. While you cannot deduct the expenditure from your trading profits, you can claim a capital allowance. Our commercial property lawyers in Staffordshire can help you claim these hidden benefits, by evaluating your position and assets, informing you of any capital allowances you are eligible to claim, and help you through the process of obtaining them.

You can claim capital allowances for:

  • equipment used in your business;
  • some fixtures and integral features in your buildings;
  • capital expenditure on research and development;
  • equipment given to charity; and
  • the renovation of business premises in an ‘Assisted Area’. (Some parts of Stoke-on-Trent may qualify, please speak to us for more information).

Capital allowances may also be passed between the seller and buyer of a commercial property, such that taxation relief for fixtures and fittings can be claimed by the buyer.

Therefore, if you are involved with such a transaction, we highly recommend you contact us prior to the drafting of contracts. If you are purchasing a commercial property capital allowances can add significant value and not understanding the new rules as a seller, could see you lose out.

Our commercial property team will ensure that your best interests are top priority, negotiate on your behalf, and ensure that your taxation position is secured.

Based in Stoke-on-Trent, Staffordshire, our commercial property lawyers have a reputation for providing accurate advice to commercial landowners, landlords and tenants throughout Staffordshire and South Cheshire. Contact our commercial property team on 01782 525000 or email us at info@myerssolicitors.co.uk.

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