Arthur Kemp AuthorArthur Kemp is the founder and Managing Director of Exact Business Taxation Services Ltd, the Capital Allowances claims professionals.


With a team of CIOT & RICS qualified surveyors and tax advisors behind him, he offers a highly specialised service in claiming property tax refunds.


As an accountant having worked in industry for 15 years in various commercial roles, it was apparent in one particular position that valuable information to business owners regarding this substantial tax relief simply wasn’t out there.    


He then sought it to make his mission to spread the word on Plant & Machinery Relief and give free advice on the subject to all. His free time, if such a thing exists is spent with family and friends and undertaking some health and fitness.


His firm specialises only in Capital Allowances claims, and uses Accountancy, Quantity Surveying and tax law skills to maximise tax relief for property owners. He confidently offers a no claim, no fee; No separate surveying costs; and these allowances can be claimed on your property, and can be used against ANY income stream.    


Claiming does not affect your CGT position and he works with your existing accountant to make it a seamless process. With full Professional Indemnity cover and 100% HMRC success record this is all legislated under CAA2001 (Part 2). “Capital Allowances have been around since 1878, yet they are almost never claimed, or often claimed incorrectly.” he quotes.

Government Review need for Capital Allowances!

In 2017 The Chancellor of the Exchequer tasked the OTS (Office for Tax simplification) to review the need for Capital Allowances, and whether we should change to using Accounting depreciation when Simplifying tax relief for tangible fixed assets? Their report was published a couple of weeks ago. Having sought consultation from a number of different stakeholders, the OTS concluded that:- “If we were designing a system to give relief for capital expenditure of this kind from scratch, depreciation could work perfectly well and would make a lot of sense. However, our analysis has shown that the undoubted simplification benefits would not be worth the disruption of the wholesale upheaval involved. As only 30,000 businesses claim capital allowances in amounts exceeding the level of the Annual Investment Allowance, we consider that the focus should be on improving the existing system.” In short, Capital Allowances are here to stay. Contact Arthur to...
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Independent Scotland for better Capital Allowances?

  John Swinney, Cabinet Secretary for Finance, Employment and Sustainable Growth in the Scottish Government stated this week “We want to create the most supportive business environment we can to help create long-term, secure growth with greater job opportunities and more prosperous businesses.”   First Minister Alex Salmond with Mr Swinney will unveil a report which will set out the “opportunities” ahead, just days before the publication of the SNP administration’s formal blueprint for independence.   The economic report is expected to focus on a “distinct approach” to corporation tax, capital allowances, national insurance and access to finance.   Mr Swinney said: “This week’s report will provide a detailed analysis of Scotland’s economic position and the range of economic policies that any future government of an independent Scotland could use to create a stronger and more prosperous Scotland.   “The government of an independent Scotland may choose to use these...
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New HMRC guidance on Plant and Machinery allowances and professional fees and preliminary costs

    HMRC have issued new guidance for individuals and businesses who, whilst undertaking a building project, incur professional fees and associated costs and need to determine if they can be included in their claim for capital allowances.   Deciding whether these costs can qualify for plant and machinery allowances has always been difficult and until now HMRC have taken the view that “only the part, if any, which relates to services that can properly be regarded as on the provision of plant and machinery can be qualifying expenditure”.   Indeed, in the case J D Wetherspoon plc v HMRC (2007) HMRC maintained that “a trader seeking capital allowances must specifically attribute all expenditure which is capable of attribution, however time-consuming or uneconomic that process may be”.   During the tribunal this view was criticized as this stance would clearly involve the taxpayer having to spend more on attributing preliminaries than...
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Budget 2012 - Main points relating to Capital Allowances by Arthur Kemp

      Capital allowances - abolition of Flat Conversion Allowances   As previously announced the abolition of flat conversion allowances will go ahead for expenditure from 1 April 2013 for corporation tax and 6 April 2013 for income tax payers.  Flat conversion allowances are 100% capital allowances for expenditure incurred in converting empty or underused space over shops and commercial premises for residential use. The abolition of flat conversion allowances will affect commercial landlords converting upper floors above shops into residential flats.   Capital allowances - business premises renovation allowance   The business premises renovation allowance (BPRA) is a 100% first year allowance available for expenditure on converting or renovating unused commercial properties in disadvantaged areas that have been vacant for 12 months or more, incurred in the five year period from 11 April 2007. As announced at Budget 2011, the BPRA scheme will be extended a further 5...
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Budget 2011 - Impact on Capital Allowances

“Capital Allowances and other fiscal incentives look likely to continue to play a key role in the Government’s plans for growth... ”   (Archived article) A summary of the main points affecting Capital Allowances tax relief within the Budget. In General The items which qualify as assets for HMO, Multi-lets, Commercial and existing FHL properties have not changed and tax relief can still be claimed on your property. HMO and Multi-let Properties HMO owners can still claim between 7% and 20% of the purchase price of the property in allowances, depending on purchase date. The tax relief is available against any taxable income.   Commercial Properties Commercial property owners can still claim between 15% and 50% of the purchase price of the property in allowances, depending on the purchase date and type of commercial use. The tax relief is available against any taxable income of the owner. Writing Down Allowances It...
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Take advantage of £50,000 - Annual Investment Allowance, HMOs and BTLs

Article Archive In April 2009, we saw a new change in the property investment front, a new tax benefit open to all Buy to let owners, commercial investors as well as variants like those with HMOs. If you own a property, you may be able to review your outgoing costs for items which will qualify for Capital Allowances. Previously these allowances have been set at 50% in the first year then 25% of the balance that remained. The property owner used to call me out to review many items that they would buy. The commercial client would have a survey typically to review these items. Since 2009, these costs could be claimed 100% but only up to £50,0000 and then over that level just 20% can be claimed each year. It is expected many HMO and Commercial owners will benefit the most but it is possible for others to get some...
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