Capital allowances
Capital allowances are a statutory tax relief that lets a business deduct the cost of qualifying assets, such as the plant, machinery and fixtures built into a commercial property, from its taxable profits. They are set out in the Capital Allowances Act 2001 and are a normal part of the tax system, not a loophole or aggressive planning.
Worked example
A company buys a £900,000 office. A desktop report identifies £200,000 of qualifying fixtures inside it (heating, wiring, sanitaryware and so on). Those allowances can be set against the company's taxable profits, reducing the tax it pays. Whether and how to make the claim is a decision for the company's accountant.
Related: What are capital allowances?
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