There is generally no tax relief on the cost of a building until you come to sell it. However, a free review by our qualified specialists will often yield an agreement from HM Revenue and Customs to allow 20-35% or more of the cost as qualifying for capital allowances against income tax or corporation tax. What is more, the capital gains base cost is unchanged so you can achieve double tax relief with HMRC’s consent!If you are a UK taxpayer and own commercial property such as offices, warehouses, residential homes, shops or hotels costing £300,000 or more, we urge you to arrange a free review of your position as soon as possible, as HMRC have stated they wish to restrict claims to being made within a year of the property being acquired – we can currently go back 15 years or even more.There is no fee to pay for unsuccessful claims, or where no claim is possible, and no upfront charges whatsoever, so there is nothing to lose and plenty to gain from arranging a free review.
How do we arrange a free review?
There are some straightforward forms to complete, available from Alan Sowden on 01865 379272 or alan@crmoxford.co.uk
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