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Accountancy Today: Why do so many companies miss out on capital allowances?

Date: May 24, 2019

There is a lot of confusion around Capital Allowances, with many business executives still unaware of what qualifies and how to claim this potentially valuable tax relief.

A quarter of companies that own commercial property are not even aware they can claim them, according to our own research.

Since the average Capital Allowance claim is worth £48,000 per year, these companies are missing out on a major revenue boost.

This widespread lack of knowledge exists despite the fact that Capital Allowances are probably the oldest tax relief out there, with some form of it available in the UK for more than a century.

How is it that after more than 100 years businesses still find it difficult to get to grips with this outwardly straight forward tax reward?

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Why do so many companies miss out on capital allowances?

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