Is it part of an accountant’s scope of responsibility to deal with capital allowances?
Contrary to what some people believe—that capital allowances are part of the scope of responsibilities of an accountant—the reality is that dealing with capital allowances is best handled and should be handled by capital allowances specialists.
This field will involve more than knowledge and expertise in taxation, and will also require surveying and assessment capabilities, things that a capital allowances specialist can guarantee to a business. In addition, a specialist will utilise even knowledge of the ins and outs of property construction to gather and analyse data to make a comprehensive evaluation of a commercial property.
And no, there will be no overlap because what will happen is that a capital allowances specialist will work alongside your accountant. Your specialist will deal solely with capital allowances claims or property-related tax relief, and all other areas of accountancy will remain under the expertise of your accountant.
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