How a Survey will Maximise your Tax Relief

A capital allowance survey, also known as a capital allowance review or assessment, is a detailed examination conducted to identify and quantify capital allowances that your business may be entitled to claim. A capital allowance survey aims to maximise tax savings for businesses by accurately identifying and claiming all eligible allowances on their capital expenditure.

During a capital allowance survey, Complete Capital Allowance will typically analyse various aspects of a business’s capital expenditure, including property purchases, construction or renovation costs, equipment acquisitions, and other relevant transactions. Our experts meticulously review financial records, property documentation, and invoices to identify qualifying assets and expenditures.

A typical capital allowances survey may involve:

1. Site Inspections

Visiting properties or facilities to assess the condition and identify potential allowances related to construction, refurbishment, or environmental improvements.

2. Asset Identification

Identifying specific assets that qualify for capital allowances, such as fixtures, fittings, machinery, and integral features within commercial properties.

3. Qualifying Expenditure Analysis

Review invoices, contracts, and other documentation to determine the amount of qualifying expenditure eligible for capital allowances.

4. Tax Legislation Compliance

Ensuring compliance with tax laws and regulations governing capital allowances, including recent changes or updates that may affect eligibility.

5. Maximising Claims

Applying appropriate tax rates and methods to maximise the value of capital allowance claims and optimise tax savings for the business.

But here’s the twist

At Complete Capital Allowance, we use our bespoke and industry-leading software to fully assess your capital allowance claim without a site visit in over 95% of cases. Our software makes the whole process simple and efficient and is accepted as part of our claims process with HMRC.

The findings of a capital allowance survey are presented in a comprehensive report detailing the identified allowances, their value, and any supporting documentation. Businesses can then use this information to claim the allowances on their tax returns, reducing their tax liabilities and improving their overall financial position. Complete Capital Allowance manages this process on behalf of our clients.

Overall, a capital allowance survey is a proactive approach for businesses to take full advantage of available tax reliefs on their capital expenditure, ultimately maximising their tax savings and optimising their financial performance.

Contact Complete Capital Allowance for more details on a Survey.