Capital Allowance tax relief is not available to property developers through construction or refurbishment expenditure, if they hold the property as a development, however they can provide benefits in property disposals. Recognising the positive benefits capital allowances can bring to the purchaser, should make the property a more attractive investment proposition and attract a higher price.
An effective way for a property developer to increase the value of the property being sold is to commission a report on the potential value of the capital allowances clearly illustrating the tax saving benefits. A report detailing fully all the capital allowances available to a purchaser highlights additional areas of tax relief rarely accounted for in the valuation of plant and machinery based on an apportionment of the sale price.
Developers are also able to claim Land Remediation Relief for expenditure incurred on the remediation of contaminated land and buildings or encapsulation of contamination. Typical contaminants might include asbestos.
The team at Jex Capital Allowances utilise their specialist capital allowance taxation and quantity surveying skills to identify every aspect of the above sections that qualifies for Capital Allowances, to produce a measured and quantified HMRC compliant analysis and report to be submitted with self-assessment tax returns.
Our aim is to maximise the tax relief available to you.
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