Maximise your allowances

If you purchase a property for your business think about separately identifying the fixtures and fittings (e.g. air conditioning, partitions, furniture). Capital allowances on such fixtures can be claimed against your tax bill. Usually the cost of the building itself cannot.

This strategy may also reduce the stamp duty cost if the revised valuation of the property now falls below the relevant thresholds (£120,000, £250,000 and £500,000). You should ensure that the valuations can be justified however as the tax man may not be too happy with all this tax you’ve saved!