Taxation Allowances

Taxation allowances are inherent in most commercial property expenditure. Tax efficiency can also be built into design considerations at an early stage.

Gleeds has dealt with over £10 billion of property expenditure, claiming allowances of around £3 billion for all types of commercial clients. They are investors in office, retail, hotel, leisure and industrial properties.

Claims for developments can provide substantial tax savings to property investors, developer investors, developers and other non-claimants.

Capital allowances
The most valuable capital allowance available is the plant and machinery allowance (PMA).

Depending upon the property type, there are also opportunities to claim for the industrial buildings allowance (IBA).

The allowances are not necessarily limited to pure construction costs or direct services installations. They can include structural and/or passive elements of a building, as well as proportions of associated professional fees.

Enhanced Capital Allowances
Enhanced capital allowances (ECAs) were brought in under the Capital Allowance Act 2001  to help reduce carbon emissions. Businesses are encouraged to invest in energy-efficient plant or machinery.

Technologies are specified on the Energy Technology List, which is managed by the Carbon Trust on behalf of the UK government.

ECAs are certified by the Carbon Trust on energy-saving plant and attract accelerated tax relief at 100% in year one.

Expenditure must be on unused plant and machinery, not second-hand. Allowances are not available on long-life assets.

Gleeds can also advise on:
- Contaminated Land Remediation
- Property Acquisitions
- Property Developments
- Property Disposals
- Property Refurbishment/Alterations
- Real Estate Investment Trusts (REITs)