The answer is twofold. Capital allowances focus on a highly specialist area of the tax system and so it is no reflection on the professionalism or diligence of accountants that some allowances are not being claimed.
White Knight Associates reports: Capital allowances are costs that businesses incur that can be reclaimed against tax as defined by the Capital Allowances Act 2001. They cover a wide range of commercial property from hotels, retail, industrial and multi-let properties and there are surprisingly few exclusions, such as if the owner is a charity or pension fund, and just a handful of qualifying criteria stating that the owner must be a UK taxpayer, but this includes individual, LLPs, PLCs and Ltd companies.
Author: White Knight Associates
For more information please contact White Knight Associates.
No comments:
Post a Comment