Any expenditure on property, such as buying an existing property, erecting a building, or works to a property, can attract capital allowances, which could be worth a total cash saving of 10% to 20% of purchase price or cost in the case of automotive property. There is no time limit on the ability to claim and therefore expenditure that was incurred in the past can be taken into account. However, it is beneficial to consider capital allowances at an early stage if possible (e.g. before exchange of contracts in the case of an acquisition, or at the design stage in the case of works) in order to maximise allowances.

GVA Grimley has a highly experienced team who can advise on all aspects of capital allowances from formulation of the claim, though to negotiations with HM Revenue and Customs.

We also offer advice on Land Remediation Tax Relief, which can be particularly pertinent to the redevelopment of petrol filling stations.