OCG Accountants

Capital Allowances

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Contact our Capital Allowances experts to see how we can help you

Contact the Team

OCG Accountancy

What are Capital Allowances?

Have you recovered capital allowances on….

Qualifying Assets

Serviced Accommodation

Holiday Lets

Commercial Property

Property Improvements

Structures and Buildings

How it works

Initial Consultation

After completing our enquiry form, one of our specialists will give you a call to better understand your situation and discuss your potential claim from the information provided. Our team will then review your key property information to tell you whether a claim is feasible.

Bespoke Illustration

Where a claim is possible our Team will produce a bespoke illustration for you, indicating the potential claim and how that claim could be applied to your tax profile. Once you are happy with our illustration we issue our engagement documents for signing and a member of our Capital Allowance team will be in touch to organise your case.

Survey

Our Capital Allowance Surveyor will arrange a survey of the property. Once the survey is completed, the Capital Allowance Team will complete an analysis of the information by applying the appropriate legislation and ensure all items are included in your claim. A final report will be prepared and issued to you to summarise our analysis and evaluation.

Claim

Our Capital Allowance team will then apply the available Capital Allowances in the most tax efficient way. We will do this by amending your tax return and submitting to HMRC. This process is fulfilled by our Accountancy Team.

Book your consultation

Capital Allowances

Capital Allowances are a tax relief practice which allows taxpayers to deduct capital expenditure against their annual taxable income. We follow a 4-step process with new clients, which starts with filling out our contact form. Once completed, someone from our Capital Allowances Team will contact you to discuss your unique situation and how we can help.

Capital Allowance Expertise

We are a team of specialists dedicated to advising and processing capital allowance claims associated with property. We have a team who work through capital allowance legislation to build an expert knowledge of qualified expenditure, ensuring the correct approach is taken to every given scenario and property portfolio.

Taxation Knowledge

Our team advise clients how best to utilise the identified unclaimed capital allowances. They have the ability to take into consideration clients’ existing tax position, the potential for tax refunds and potentially any Group or Sideways relief. We will also go further, discussing how the identified capital allowances could improve your current and future tax position.

Accountancy Skills

Our Accountants complete a high level of due diligence in the analysis of your Accounts, Tax Returns, Repairs and Renewals, and Fixtures and Fittings to support our approach when submitting claims to HMRC. We also offer a wide range of Accountancy services to assist all your business needs.

Our Services

Capital Allowances are a type of tax relief. They let you deduct some or all of the value of an item from your profits before you pay tax

Get in touch

Telephone

01642 035 208

Email

capitalallowances@ocgaccountants.co.uk

Address

Biz Hub Tees Valley,
Belasis Hall Technology Park,
Coxwold Way, Billingham,
TS23 4EA.

Frequently Asked Questions

Why haven't I heard of Capital Allowances?

Capital Allowances are a specialist and not well-known area of taxation, however, they have been established in law since 1878.

Do the tax savings have to be paid back when I sell?

No, once the claim has been accepted by HMRC, they are there to be set against the tax of whoever owns the property.

Will it affect my Capital Gains Tax?

You are able to use the tax savings made from the Capital Allowances towards any CGT you may have to pay.

Is it a tax scheme that could be stopped?

Capital Allowances are a way of obtaining tax relief on some types of capital expenditure. They are treated as another business expense and are a government supported allowance.

How much do you charge?

Our fees are based on a percentage of the Capital Allowances that we find. We aim to recoup the fees from your tax savings rather than asking for a payment up-front.