Limited Company or LLP for Capital Allowances
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Capital allowances can be hugely beneficial and Shaz explains how things work in both an LLP and a limited company
\\nHe 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
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\\nKEY TAKEAWAYS
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- An LLP is transparent for tax purposes and the capital allowances are claimed on the income \\n
- The government wants to incentivise trade and you can claim back for fixtures and fittings that you have invested in to start your business \\n
- An LLP is transparent for tax purposes so individual partners pay tax on the profits \\n
- When you have no capital allowances left, you can incorporate \\n
- Capital allowances are based on what\\u2019s in the building \\n
- If you buy a commercial property you can claim on what\\u2019s already in the property \\n
- Always use a commercial property standard enquiry and negotiate with the seller \\n
- If you are buying a commercial property through a SSAS there is no tax \\n
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\\nBEST MOMENTS
\\n\\u2018You only pay tax if you take the money out of the bank\\u2019
\\n\\u2018Claim the annual investment allowance as much as you can\\u2019
\\n\\u2018With capital allowances, there are two bites of the cherry\\u2019
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\\nVALUABLE RESOURCES
\\nshaz@aaa-accountants.co.uk
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\\nABOUT THE HOST
\\nShaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
\\nShaz 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.
\\nHe 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.
\\nYou can find Shaz on:
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This show was brought to you by Progressive Media
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