Tax Savings Calculator
This calculator allows you to see the approximate tax saving you may be able to achieve from claiming capital allowances.
How to use this Calculator
Select the Project and Property type, Your Tax rate, the amount of Expenditure and click Calculate Savings. The result is displayed opposite Tax Saving.
HMRC does not accept that capital allowances can be claimed on residential property, for example, buy-to-lets, houses of multiple occupation, student houses, etc.
Making inappropriate residential claims can result in interest and penalties being charged by HM Revenue & Customs, even many years after the claim has been submitted.
The values shown are not guaranteed, and are based upon the following assumptions:-
- Capital allowances are an income or corporation tax relief. To benefit, you must be liable to tax in the UK (ie, not a non-taxpayer such as a SIPP, charity or trust) and making sufficient business or rental profits to have recently paid, or be expected to pay, an income or corporation tax bill;
- The potential tax savings shown are not guaranteed and are subject to your particular circumstances and the preparation of a detailed capital allowances expenditure analysis report;
- Capital allowances are available at various rates. Estimated savings shown are potential total tax savings over time. Depending upon your circumstances claiming can result in a cash rebate from HM Revenue & Customs, or a reduction in current and future tax bills, or both;
- This information is indicative only. It is not suitable for, nor intended to be used for, estimating tax liabilities or preparing tax computations or returns.
Once you're run a few calculations, why not contact us to discuss your circumstances in more detail?
Call our General Enquiries number on 0333 123 1203 (which costs the same as a standard landline call even from your mobile), or complete the Send us a Message form on the right of this page.