Place North West is joining with CA Tax Solutions, based in Sale, to deliver a breakfast event around the benefits of capital allowances to your property portfolio.
The free-to-attend event is open to property owners and will feature presentations from experts in tax relief on property expenditure and takes place at Lancashire County Cricket Ground on 1 December.
Capital allowances are a valuable form of tax relief available to anyone incurring capital expenditure buying or building commercial property. As a business you can claim tax allowances, called capital allowances, on certain purchases or investments, which means you can deduct a proportion of these costs from your taxable profits and reduce your tax bill.
Capital allowances are available when;
Commercial property is acquired for investment or occupation
Commercial new-build, extension or fitting-out/refurbishment works are undertaken.
Capital allowances are available for two reasons:
Firstly, accounting depreciation is not an allowable deduction for tax purposes. However, capital allowances are available instead, which give a tax deduction under rules set out by Government (this is why capital allowances are sometimes called 'tax depreciation').
Secondly, because capital allowances provide valuable tax breaks, the capital allowances system is used to provide incentives to invest in commercially and economically desirable assets.
Capital allowances are a right, not a privilege and are best thought of as a reduction in the purchase price of the assets. They significantly boost the post-tax yield on an investment. In short, capital allowances are an entitlement; if you have incurred the expenditure you deserve the tax benefit.
The event starts with registration at 7:30am ready for presentations at 8:00am. The event is aimed at property owners rather than advisors and Place and CA tax Solutions reserve the right to refuse attendance at our discretion.
Please RSVP firstname.lastname@example.org