Capital Allowances are available for Property Embedded Fixtures and Fittings (PEFFs)
This is a specialist area and requires a detailed knowledge of HMRC regulations, current legislation and the required evidence for qualification.
CA Advisory Services Ltd (CAAS) offer advice on whether you can successfully claim and what qualifies in a property. We prepare the submission to HMRC after conducting due diligence, reviewing the appropriate documentation, considering the current and expected tax position of the claimant and commissioning a survey report for the property.
The report confirms the value of the qualifying PEFFs and the tax relief that will result.
CAAS also offer CPD training for our Accountant partners.
Your Accountant may have included a tax reducing capital allowance for your business property, plant and machinery; but may not have claimed for property embedded fixtures and fittings (PEFFs).
These can represent additional tax reducing claimable capital allowances worth a significant percentage of the property value.
PEFFs are functional items that are, simply put, embedded into the building. They can include items such as heating, air conditioning, hot and cold water systems, electrical and lighting systems – the list is quite extensive.
Claiming for these is a specialist area and requires an assessment of your current and future business or personal tax position, depending on who owns the property. A surveyor must visit and confirm what qualifies in your property. The value of your claim is then calculated and submitted to HMRC.
Our team of accountants and surveyors at CA Advisory Services undertakes the entire process, and then submits the claim to HMRC, generating for you or your business a significant personal or corporation tax reduction benefit.
We are here to help answer any of your capital allowances questions or enquiries you have about your commercial property.