Claiming Capital Allowances
Episode description
Shaz works through a live example to explain what can be claimed in capital allowances each year
He discusses with his audience the types of challenges that can face property investors when they are making claims for capital allowances and answers questions about claiming capital allowances at the point of purchase
KEY TAKEAWAYS
- There are different types of pools for capital allowance purposes
- The pool that the expenditure goes into helps to determine the amount of capital allowances
- The general capital allowances pool is 18%
- Try and use up as much of the capital allowances as you can to create a taxable loss
- The annual investment allowance lets you claim up to a million in new expenditure
- Make sure on the form that ‘zero’ is not put on the form for capital allowance
BEST MOMENTS
‘Assume everything goes into the general pool’
‘When you carry out the refurb and install new plant and machinery you can make a claim’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultations he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
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