Capital Allowances
Mitigating tax liabilities is an important aspect for any tax payer, but it is little known that incurring expenditure on purchasing, refurbishing or constructing surgery premises can give rise to substantial tax relief.
How can we help you?
A key problem surrounding Capital Allowances is lack of knowledge. In general, tax relief is not well understood by many in the construction industry, and specific surveying and construction expertise, with a thorough understanding of the legislation, is necessary to maximise the allowances. Some accountants will pick this up and bring in the relevant expertise, but there are many that are unaware of the different skills base required to analyse construction cost data and will likely not claim all that can be.
Past expenditure can also potentially uncover unclaimed tax relief, so overall there is a substantial financial benefit when incurring expenditure on your surgery premises.
The tax savings are given over a period of time, but utilising any qualifying energy efficient and water saving technologies in the build specification will provide 100% tax relief in the first year.
In addition where new premises are being built there is also the potential to recover a percentage of the VAT.
GP Surveyors work with an affiliate company to ensure that our clients are getting the appropriate tax relief. Please contact GP Surveyors on 0845 143 0019 for more details.
We also recommend:
- Extensions
- Alterations & Refurbishments
- Surgery Development
- Acquisition Surveys
- Investment (how we can help investors in healthcare properties)
