Capital allowances are used by the government to provide an incentive to invest in capital equipment, including commercial property, by allowing most taxpayers a deduction from taxable profits for certain types of capital expenditure.
Capital allowances provide tax relief on capital expenditure by prescribing a statutory rate of depreciation for tax purposes, in place of the depreciation used for accounting purposes. A surveyor can help to identify qualifying expenditure, such as plant and machinery within a building, and so reduce the amount of tax payable.
