06:27 09 December 2013
When it comes to assets, depreciation is not typically tax deductible, which is why capital allowances are available. It can be tricky to figure out what can be included with capital allowances. If there are things, which are not immediately relevant to the commercial activity on the premises, they cannot be included.
Here are just some of the types of assets, which may qualify depending on the type of business:
If you are not exactly sure what category your property should be identified under, you should talk to a tax specialist to ensure that you are only claiming the capital allowance that you are supposed to. There are also a few other things to keep in mind when calculating what you can claim.
Due to the complexities, it is best to seek professional guidance.
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