Garbutt + Elliott Launches Capital Allowances Service

Capital Allowances Team – Jeremy Oliver, Rob Durrant-Walker, Angela Mikola + Adrian Widdowson


Garbutt + Elliott is set to help commercial property owners & occupiers saves thousands with the launch of a new in-house capital allowances service.

Headed by property services team partner, Jeremy Oliver, the service would allow those who own commercial property to access thousands of pounds in tax relief.  While many accountancy firms lack the expertise to make these types of claims and tend to outsource the work, Garbutt + Elliott’s team of in-house capital allowances specialists are able to offer the service alongside other compliance work.

Commenting on the new in-house service, Jeremy Oliver said: “Our ability to offer access to the very best capital allowances advice is a real advantage to our clients.  At Garbutt + Elliott we pride ourselves on building lasting relationships with our clients, and by bringing capital allowances in-house our customers know they will be dealing with someone they trust.

“Likewise, as some accountants shy away from capital allowances due to the complex procedures and legislation involved, having a team with the specialist technical and valuation skills at Garbutt + Elliott puts us in a unique position to offer a service that can benefit anyone who owns commercial property and wishes to make significant savings through tax relief.”

Capital allowances cannot be claimed on buildings themselves, but can be claimed on internal fixtures such as plumbing, heating and air conditioning, alarms and emergency lighting and – for pubs and restaurants – certain decorations which contribute to ambience.  Despite the significant savings to be made, over half of commercial property owners have not made a capital allowances claim.

Jeremy continued: “Many commercial property owners do not fully understand the process of making a capital allowances claim, or when it is appropriate to do so.  We would advise owners to speak to us about capital allowances when they are building, extending or refurbishing a commercial property, when purchasing a property directly from the developer, or when buying or selling a second-hand property.

Changes in tax legislation in 2014 make it more important than ever that claims are identified when a transfer of a commercial property is being considered as the entitlement to make a claim could be lost with the new rules.

“Even for those who have owned a property portfolio for several years, it is possible to look back indefinitely at any purchases and refurbishments made in the past, so there is still scope to make major savings by making a claim.”

Capital allowances claims can be made by any commercial property owner, and average claims for hotels, care homes and offices can be as high as 40 per cent of expenditure, or 25 per cent of expenditure for retail and industrial units or furnished holiday lets.

For more information, please contact Jeremy Oliver or 01904 464 100