As a business in the UK your corporation could be entitled to claim for capital allowances helping constitute financial decisions more viable and cost effective whilst helping to reduce the corporation and income tax. Capital allowances (also referred to tax allowances) can be claimed on certain buys or investments including plant and machinery, certain building types (which includes conversions of commercial property to flats for a rental income). If these apply to your business it method you can reduce your tax bill by deducting a proportion of these costs from your taxable profits. Depending on what you are claiming for depends on the amount of allowance available. More information: click here
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