Can property developers claim capital allowances?. It is, however, critical to establish entitlement, especially in a landlord / lessee situation. Generally yes, where the property is let. Can landlords claim capital allowances?. We will establish that the taxpayer has an entitlement to claim and once this is confirmed,we will prepare a maximised capital allowances claim. No, all capital expenditure does not qualify for capital allowances.Ī taxpayer must satisfy the relevant criteria in the legislation in order to be eligible to make a claim. Do all fixed asset additions qualify for capital allowances?. A number of conditions/tests must be satisfied. Whether an item qualifies must be determined by reference to the facts, the nature of the trade, and the function of the item in the trade. P&M must be identified on a first principles basis. There is no legislative definition of the term “plant and machinery” (“P&M”), so the identification of qualifying items is not straightforward. Is there a list of qualifying plant and machinery that I can use to calculate my claim?. Our dedicated team consists of full-time chartered quantity surveyors and tax professionals, who work solely on preparing maximised and compliant tax depreciation/capital allowances claims for our clients. KPMG’s Tax Depreciation Group is the only Big 4 firm in Ireland to have a dedicated specialist capital allowances team – with over 17 years experience. Wear and tear allowances and most industrial buildings allowances have not been affected by the recent withdrawal of property-related tax schemes. It is important to ensure your claim is fully compliant and there is sufficient evidence/documentation available to support your claim. Revenue frequently audit capital allowances/tax depreciation claims. It is necessary to satisfy a number of conditions established primarily through case law and Revenue precedence. Whether an item qualifies for capital allowances must be determined by reference to the facts. There is no approved list of qualifying items of plant and machinery! Entitlement must be established and qualifying expenditure must be properly identified. 
The area of capital allowances is quite complex.
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We can help rectify the situation and identify your full entitlement. This results in taxpayers leaving behind valuable tax/cash savings.
Our experience has shown that capital allowances /tax depreciation claims are often understated.
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