Capital Tax Allowances

Many business owners aren't fully aware of the scope of tax relief they can claim for capital expenditure or the steps they need to take to secure it. Larking Gowen's capital allowance specialists can actively advise on the best way to invest in your business and reduce your tax bill.

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Capital Allowances

Whether it's plant and machinery, which has a wider definition than most people are aware of, vehicles or premises, we'll help make sure your business investment decisions are timely and cost effective.

Some of the areas we advise on include:

Making the most of your annual investment allowance and full expensing allowance
Identifying qualifying expenditure on the refurbishment of premises
Identifying qualifying expenditure on second hand buildings
Structures and buildings allowances and fixtures elections
Choosing the most tax efficient vehicles
Identifying energy efficient plant and machinery

Relevant Insights

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Research and Development relief

If your company is involved in research and development (R&D), it may be entitled to a relief which could reduce the company’s tax bill or generate a cash sum payable by HMRC.

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Taxation of cars and vans

The HMRC rules regarding the taxation of vehicles are complex and differ depending on the type of vehicle in question. It’s therefore important to correctly identify a vehicle as either a car or a van, and to know which category double-cab pick-ups fit into.

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Spring Budget Summary 2024

On 6 March 2024, the Chancellor delivered the Spring Budget Announcement. This Summary covers the key tax changes announced in the Chancellor’s speech and includes tables of the main rates and allowances.

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Tax Data Card 2024-25

On 6 March, the Chancellor delivered the Spring Budget Announcement. Download our Tax Data Card 2024-25 to keep up to date with the latest tax changes.