
Office fit out planning and process FAQs
Answering some of your questions around what’s involved ahead of, and during, an office fit out
Generally, businesses will pick one of three options:
Also known as hire purchase, payments are made over a fixed period, and at the end the asset becomes yours. VAT-registered businesses can claim back the VAT on the asset up-front, there is a capital allowance on the reducing balance and interest payments can be offset against profit as part of a 100 per cent tax allowance over the term of the contract.
Similar to lease purchase, except you do not own the asset at the end of the contract, although you may wish to buy the assets at some point. Payments can be offset against tax and VAT can be reclaimed.
Using an asset that remains the property of the finance company, which is also responsible for its maintenance and upgrade – can be a more affordable option to finance lease for this reason, and attractive because there is no big initial outlay.
Yes, but a limited amount. You can claim up to £200,000 per year annual investment allowance (see our FAQs on financial aspects of an office fit out). However, if you lease the project, the repayments are 100% tax allowable, which can mean it works out cheaper than paying cash.
Answering some of your questions around what’s involved ahead of, and during, an office fit out
Often the most stressful things about an office move is getting IT systems back up and running. Having recently undergone and office refurbishment of their own, our colleagues at Resolve IT are best placed to highlight the most important IT issues to factor in.
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A look at the common cost and tax considerations associated with an office fit out