Allowances on limited company buying properties..

Allowances on limited company buying properties..

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Hi Guys,

A client buys commercial properties (high street banks and shops) and puts them on rent to other businesses. There is very little running expenses as once they ar eleased out, the tenant covers all expenses.

Are there any allowances that can be applied to reduce taxble profit? All buildings have gone up in value so far and assume there are no capital allowances that can be applied?

 

Ta all.

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By Piltdown Man
05th Jan 2021 09:48

Assuming that no capital allowances are available is only really a sensible assumption if, er, no capital allowances are available!

It may not be right and you might be advised to revisit that assumption and at least check it.

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