Why do Architects and their Clients need advice on Capital Allowances?
Capital Allowances provide a type of tax relief that allows businesses & individuals to deduct the cost of certain assets from their taxable profits.
These assets include the plant & machinery in all commercial properties. It comes down to making sure that the plant & machinery in the property qualify for the tax relief. Choosing the right energy (& water) efficient plant & machinery can bring significant benefits to Architects and their clients.
The levels of tax relief that could be realised could overturn any decisions on projects that would of normally have been dismissed. This tax relief, combined together with the reduction of energy bills due to the energy efficient plant, make for an attractive proposition for any potential clients.
However in order to maximise the tax relief, Capital Allowances need to be taken into consideration during the design stage of any new projects, as the right plant & machinery is key to achieving these savings.