CAS - Sectors - Commercial Construction
The construction of new build commercial properties is a lucrative option for capital allowances purposes especially since the introduction of the Structures and Buildings Allowances in October 2018. Commercial buildings can either be constructed for owner occupier use or used to lease out to tenants.
The construction industry is highly competitive, and maintaining a modern, efficient operation is crucial. Capital allowances enable you to stay ahead by facilitating upgrades that improve project delivery times, build quality, and client satisfaction.
No upfront fee
Our team, are here to build a long term relationship with you and your business, and that's why we don't need hourly rates or day rates - we only bill when your claim is successful.
£55m+
Unlocked for our clients through well prepared, robust and successful UK commercial tax relief claims.
£121bn
Was the total value of UK Capital Allowances claims minus balancing charges in the 2021 to 2022 financial year (HMRC Stat).
In the UK, capital allowances are categorized into different “pools” which determine the rate at which you can claim tax relief on your capital expenditures. Here are the primary cost pools for claiming UK capital allowances:
This pool typically includes most plant and machinery used in a business. The main pool qualifies for the Writing Down Allowance (WDA) at a rate of 18% per year on a reducing balance basis.
The special rate pool includes assets that have a slower depreciation rate and qualifies for the WDA at a rate of 6% per year on a reducing balance basis.
Introduced for contracts entered into on or after October 29, 2018, the SBA allows businesses to claim 3% per year on the cost of constructing, renovating, or converting non-residential structures and buildings. This allowance is claimed on a straight-line basis over 33 1/3 years.
New build commercial properties can benefit from varying levels of allowances relating to qualifying items such as carpets and other loose floor finishes, sanitary ware installations, kitchen and catering equipment, audio visual installations, any costs associated with the installation of plant and machinery such as reinforced flooring for heavy machinery, and trade related sound insulation where applicable. Integral features within the building may include, electrical power and lighting, hot and cold-water systems, air conditioning, boilers and heating systems. When completing commercial construction projects there is likely to be significant expenditure relating to the installation of foundations, concreting works, external works, the construction of walls, ceilings and doorways, these costs may be eligible for Structures and Buildings Allowances which can attract significant ongoing tax relief.
Our team comprises seasoned tax professionals and surveyors with extensive experience in the nuances of capital allowances. We stay abreast of the latest legislation and best practices, ensuring you receive the maximum relief available.
We conduct thorough assessments of your capital expenditures, meticulously identifying all qualifying assets. From plant and machinery to integral building features, our detailed approach ensures nothing is overlooked.
COFFEE SHOPS & CAFES
PUBS & RESTAURANTS
HOTELS
CARE HOMES
INDUSTRIAL & FACTORIES
OFFICES
NURSERIES & CHILDCARE
FURNISHED HOLIDAY LETS
WAREHOUSES
DOCTORS OFFICES & SURGERIES
RETAIL STORES
TRANSPORT & LOGISTICS
DENTISTS
VETS
FARMS & AGRICULTURAL
COMMERCIAL CONSTRUCTION
Claiming capital allowances may seem hard at first, but at the BSE Group, we’re here to help you through the process. Our time within the financial field has given us the expertise needed to help your business claim tax relief. Unlock the hidden value in your capital expenditures with our help.
Contact us today for a free initial consultation and see how our Capital Allowance Team can transform your tax strategy and enhance your financial performance.
