What Are Capital Allowances?

 

Capital allowances are a tax relief or tax depreciation for capital expenditure.

The Irish Government operates a complex system of tax incentives aimed at encouraging capital expenditure on a variety of measures relating to business, trade and premises. These range from tax relief for investment in plant and equipment, Industrial buildings and energy efficient equipment, to name but a few.

Who can claim?

In general, where buildings are let, it is the landlord or owner occupier that is entitled to claim on qualifying expenditure incurred. Typically, tenants or lessees can also claim on qualifying expenditure incurred.

Entitlement

In Ireland the issue of entitlement to claim capital allowances is an extremely complex area and ultimately a matter of fact.

Entitlement in Ireland can only be determined based on the expert review of the unique circumstances of each case. KCAP’s expertise and knowledge of the capital allowances rules, legislation, practice, precedent and case law in Ireland allows us to properly determine a client’s entitlement to claim.

What is involved?

In summary, we review and survey our clients property portfolio including commercial, retail, industrial, residential and overseas.

We liaise with the clients project design team (Architect, Services consultant, Quantity Surveyor etc), internal finance team and legal advisors.

We compile and perform a detailed analysis of all construction and financial information relating to these investments. Through expert analysis of the facts, our goal, is to identify value and opportunities to improve your capital allowances claim.Our property knowledge and experience together with our unique skill set of surveying and capital allowances results in maximised yet compliant capital allowances claims.