Integral Fixtures – What, why, how?

Does your business property include lights, heating or a telephone line? If yes (and basically this means pretty much every business / commercial premises) then have you claimed capital allowances on your ‘integral fixtures’?

If the answer is no, or if you don’t know – contact us to look into it for you.

Capital allowance claims on these integral fixtures is an additional claim over and above the moveable fixtures and fittings that you may have bought with the business or purchased since starting your business.  For many businesses this can result in thousands of pounds of tax relief, and it must be claimed before the business is sold or the relief will be lost for good for you and all future owner(s) of the property.

And the best bit – the claim doesn’t impact on your capital gains tax position.  In a rare example of HMRC being generous with the rules, the allocated cost of the integrals can be claimed for immediate tax relief against profits and claimed for capital gains tax when the property is sold – win win.

Some companies are ‘unscrupulously’ offering to do this review and claim for you for a very high percentage charge (sometimes up to 25%). If you follow this route you could end up paying them a significant proportion of your savings so please do talk to us first.

Dodd & Co will claim this allowance for all of our clients as part of our normal service.

Contact Jackie Kirsopp on 01768 864466 or email Jackie.kirsopp@doddaccountants.co.uk for more information.

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