| Tax relief opportunities on commercial properties |
According to recent statistics around 97% of properties have capital allowances that remain unclaimed meaning the majority of UK commercial property owners have been paying too much tax. If you own a commercial property with a purchase price in excess of £250,000, you may be able to claim extra tax relief in the form of capital allowances.
The allowances are available to anyone who has incurred capital expenditure either when buying or building commercial property, and can be used to deduct a proportion of your costs from your taxable profits and in turn reduce your tax bill.
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If you believe you are part of the 97% and would like further details on how to claim for these allowances then contact our tax manager Janice@a4gsolutions.co.uk. Janice works with a number of specialists in recovering capital allowances on commercial properties and can organise a “test for free” service whereby you only pay a fee if you save tax. |
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| Charitable giving and personal tax |
If you make regular payments to charity under gift aid and are a higher rate tax payer, you may benefit from including these on your tax return each year.
Gift aid payments can also be carried back to a previous tax year and if you make a payment in July 2010 for example, you could claim for it to be offset against your affairs in the tax return to 5th April 2010.
If doing this each year, beware of filing your tax return early! Although it is always prudent to file your tax return as soon as possible, legislation specifically prevents a carry back claim for gift aid purposes being made on an amended return.
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Any carry back claim for gift aid purposes must be shown on the original return submitted and therefore if you are planning on making large gift aid payments after April each year that you might want carried back, let your client manager know about this so that returns are not filed until after the payment has been made.
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| Qualified staff at A4G join LinkedIn |
For many of us past our 40th birthday, social media is something that is done by those younger than us. However, I am sure you will have heard the often quoted statistic that if facebook were a country it would be the fourth biggest country in the world!
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Clearly over the next few years social media will become an area that cannot be ignored by any successful business large or small. At A4G we have all joined LinkedIn which is a social media site for business professionals and owners encompassing 65 million people across the world. Over the next few weeks you may receive an invite from one of us to become a contact on LinkedIn. If you are already registered on the site then all you need to do is accept but if you are not then you might wish to register.
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| A4G helping you make your business less dependent on you |
Fortnightly tip:
Internal emails are a great way of delegating tasks to staff. You will have a record of what has been allocated to whom and specific parts of the task will not be forgotten by your staff as they have a written record of what is required. Email is of course no substitute for explaining something verbally but combining the two dramatically reduces the likelihood of the task bouncing back to you.
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You can also use your sent items to keep track of what remains outstanding so that you can chase up anyone who is taking a while to respond.
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