How do I make the most of Capital Allowances?

Refurbishing hotels can be an expensive undertaking.  However, there could be significant capital allowances available on these big projects that may reduce taxable profits – and therefore tax payable.  Capital allowances can be claimed on items such as plumbing and electrical works, kitchen fittings and soft furnishings and can, in some instances, be claimed in full in the year in which they are incurred; meaning that you can claim the full cost of some assets as a deduction against your taxable profits.

A detailed capital allowance review could help highlight where you can take advantage of these allowances – contact us to find out more.

Leisure & Hospitality FAQs