Elite precast concrete are always on the lookout for anything that can save our clients’ money – so the latest tax relief for UK farmers building concrete structures is great news.
We all know tax can be ‘’taxing’’ to explain but here are the basics (you may need advice from a qualified tax expert before committing)
For many years farmers needing new buildings could rely on the Agricultural Building Allowance for much needed tax relief – however since it’s abolition many farm businesses have found it difficult to make the numbers stack up when it comes to new infrastructure investment.
Rural businesses can also claim tax relief for alterations to existing buildings – for example using Elite’s high strength interlocking blocks to create internal push walls and storage bays.
This is thanks to Annual Investment Allowances (AIAs)
How does it work?
Obviously individual cases vary but essentially for an asset to be covered by this tax relief it can’t be plant or machinery – or a fixed / permanent part of a building. So interlocking concrete ‘’lego’’ type blocks are perfect – as they are free standing and easily re-configured.
What to do next?
First step – contact Elite precast for a chat / no obligation quote to see what the interlocking blocks can do for you.
Second step – contact a tax specialist to double check the tax relief situation.
Third step – consider Elite’s highly competitive finance offer too.
Finally – take delivery of one of the most hard wearing, tax effective and cost efficient products currently available