Farming or Agri? Are You Claiming Capital Allowances?

At Complete Capital Allowance, we assist farmers and agricultural businesses in claiming capital allowances by identifying qualifying assets to maximise tax relief. Here’s how we help:

1. Identification of Qualifying Assets

Plant and Machinery: This includes tractors, combine harvesters, ploughs, and other farming equipment.

Farm Buildings and Structures: Items such as barns, silos, and other storage facilities.

Integral Features: Electrical systems, heating and cooling systems, water systems, and other integral features within farm buildings.

Environmental and Energy-Saving Equipment: Assets such as solar panels, wind turbines, and other renewable energy installations.

2. Detailed Property Survey

On-Site Assessment: A detailed survey of the farm to identify all potential qualifying expenditures. This can involve a physical visit or a remote assessment using provided data, our unique software and documentation.

Embedded Fixtures: Identification of less obvious qualifying fixtures that are part of the farm’s infrastructure, which may be overlooked by non-specialists.

3. Preparation of Reports

Comprehensive Reporting: We prepare a detailed report that lists all qualifying assets and their respective values, which forms the basis for the capital allowances claim.

Documentation for HMRC: Ensuring all necessary documentation is prepared and submitted to HMRC, including any justifications and explanations needed to support the claim.

4. Submission and Follow-Up

Handling HMRC Queries: Managing any questions or concerns raised by HMRC during the claim process.

Efficient Processing: Streamlining the process to ensure the claim is processed as quickly as possible, typically within 4 to 8 weeks.

Benefits to the Farmer or Agriculture Business

Tax Savings: Significant reductions in taxable income, leading to lower tax liabilities.

Cash Flow Improvement: Immediate tax relief through mechanisms like the Annual Investment Allowance (AIA), which allows up to £1 million of expenditure to be deducted in the year of purchase.

Expert Knowledge: Leveraging the expertise of Complete Capital Allowances tax and surveying specialists to ensure no qualifying expenditure is missed.

Examples of Specific Claims for Farmers

Farm Equipment: Tractors, harvesters, milking machines, and irrigation systems.

Buildings and Structures: New barns, storage facilities, and silos.

Infrastructure Improvements: Drainage systems, roadways, and fencing.

Renewable Energy Projects: Installation of solar panels, wind turbines, and biogas plants.

How the Process Works

1. Consultation: Initial meeting to discuss the farmer’s assets and potential for claiming capital allowances.

2. Validation: Review of the farm’s assets and expenditures to determine eligibility.

3. Survey: Detailed survey to document all qualifying assets.

4. Report Preparation: Compilation of a comprehensive report detailing the claim.

5. Submission: Filing the claim with HMRC and handling any follow-up queries.

6. Tax Relief: We have been 100% successful with our claims.

Contact the team at Complete Capital Allowance and start your claim today.