HMA Tax

As the new government considers fiscal reforms, one policy should remain untouched: the Capital Allowance Act. With economic resilience at stake, we believe Capital Allowances will likely remain an essential pathway to savings, safeguarding UK businesses amidst broader tax changes and fiscal shifts. Read more: www.hmatax.co.uk

In Manchester, a client recently acquired an office building for £830,000 and HMA Tax identified £174,300 in qualifying allowances. Given the property owner's tax rate of 19%, this translated into a tax relief of £33,117. Importantly, the initial tax refund amounted to £10,849, improving the client's cash flow instantly. By leveraging Capital Allowances, commercial property owners can reclaim a substantial portion of their investment.

Hotel transactions are among one of the more complex Capital Allowance claims within the commercial property sector. With their unique blend of commercial, residential, and leisure spaces, hotels feature a vast range of qualifying assets that can generate substantial tax savings—if correctly identified, valued and claimed by experts. Read More:

Capital Allowances on qualifying items could unlock tax relief worth up to 40% of the total cost of a commercial property. If you own commercial property in the UK, there’s a good chance you’re eligible for significant tax savings — don’t miss the opportunity.

This year marks a monumental milestone for HMA Tax as we celebrate our 10th anniversary. Over the past decade, we have been at the forefront of capital allowance claims, transforming the financial landscapes of countless businesses and individuals. As we reflect on our journey, we are filled with immense pride and gratitude for the trust and support of our clients, partners, and dedicated team.

Capital Allowance claims create significant tax relief for commercial property owners. However, in cases where assets serve both business and non-business purposes, the concept of “just and reasonable apportionment” becomes crucial. Many assets, particularly properties or vehicles, may have dual purposes—both for business and non-business activities. Just and reasonable apportionment ensures that the Capital Allowance claim accurately reflects the asset’s actual use. Learn more: hmatax.co.uk

Recently, our Claims Specialists undertook a comprehensive review of a London property acquisition, uncovering £300,000 in previously unclaimed Capital Allowances, a significant gain for the new property owner. Find out more:

From 1 April 2023 companies subject to UK corporation tax can receive a 100% first year tax deduction for expenditure they incur on qualifying plant or machinery - essentially reducing the in-year cost of plant or machinery by 25%. If you are eligible, contact HMA Tax immediately to ensure you claim the tax relief that you are entitled to through the Capital Allowance Act 2001.

By leveraging Annual Investment Allowance when claiming Capital Allowances, commercial property owners can reduce their tax bill by thousands of pounds. If you own commercial property in the UK then you are likely eligible for significant tax relief and rebates.

This years Spring Budget has brought forward announcements that underscore the ongoing support for the Capital Allowances regime, notably through the decision to extend ‘full expensing’ to plant and machinery lessors. Although there were adjustments to the Furnished Holiday Lettings tax regime, which could influence how property owners can claim Capital Allowances, these changes present an interesting development in the broader context of fiscal policy and business investment incentives in the UK.