Capital allowances can be hugely beneficial and Shaz explains how things work in both an LLP and a limited company

He also shares great content on when to claim capital allowances and how with any commercial property purchase there is potentially more than one opportunity to claim

 

KEY TAKEAWAYS

• An LLP is transparent for tax purposes and the capital allowances are claimed on the income
• The government wants to incentivise trade and you can claim back for fixtures and fittings that you have invested in to start your business
• An LLP is transparent for tax purposes so individual partners pay tax on the profits
• When you have no capital allowances left, you can incorporate
• Capital allowances are based on what’s in the building
• If you buy a commercial property you can claim on what’s already in the property
• Always use a commercial property standard enquiry and negotiate with the seller
• If you are buying a commercial property through a SSAS there is no tax

 

BEST MOMENTS

‘You only pay tax if you take the money out of the bank’

‘Claim the annual investment allowance as much as you can’

‘With capital allowances, there are two bites of the cherry’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

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