CoStar Column: How to get a cashflow boost from capital allowances

In these challenging times with cashflow pressure, the claiming of capital allowances, a government tax relief available for certain property expenditure, can help to generate significant tax cash savings. Whilst HMRC have given businesses the ability to defer VAT and income tax payments, corporation tax will still represent a significant cost for businesses during this difficult time. Often overlooked is the entitlement for companies, non-resident landlords, partnerships and individuals to make a claim for capital allowances on historic expenditure, providing those qualifying assets are still owned. Here is a practical guide for business owners to make use of the available property tax incentives: