An essential guide to claiming capital allowances on property expenditure

This quarter’s edition of Accountancy Plus magazine from the Certified Public Accountants of Ireland features senior consultant, Phil O’Connor, who explains the complex area of tax law that is capital allowances on property spend.

He elaborates: “Capital allowances claims for property expenditure range from the simple to the extremely complex. Where claims are carefully prepared, they can provide a low-risk and tax compliant contribution towards significantly reducing the claimant’s tax liability.”

Phil provides an overview of what capital allowances are, the rates of relief and typical claim values, what qualifies for a claim, what due diligence should be undertaken, and the importance of retaining claim information.

Read the article on pages 33-36 of Accountancy Plus.

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