Hospitality Today Summer 2017 (#38) - Page 10

10 | Hospitality Today | Summer 2017 Capital Allowances in the Hospitality business owners ‘in the dark’ about valuable tax relief by Mark Tighe (below) , CEO tax relief specialists Catax A shocking two in five businesses in the hospitality industry are completely in the dark about a valuable tax relief called ‘Capital Allowances’, according to a poll we carried out recently of UK business owners. The poll also revealed that nearly half (46%) of hospitality businesses that own their own premises have never had Capital Allowances brought to their attention by their accountants. Given the money at play here, this is a major issue. Capital Allowances, if you’ve never heard of them before yourself, are a tax relief available on the ‘intrinsic fabrication’ of a commercial property that a business owns. Qualifying items typically include pipework, cabling, heating, lighting and air conditioning, security and communication systems.