Claiming Capital Allowances on Commercial Properties
We’ve recently teamed up with a specialist company that secures tax rebates for businesses and individuals that own commercial property by identifying unclaimed ‘capital allowances’.
Capital allowances, if you’ve not heard of them before (and chances are you haven’t), are a valuable form of tax relief available to any person or business buying, building or making adjustments to commercial property.
In short, if you own commercial property then there’s a good chance you will be liable for a significant rebate.
Crucially, there is no financial risk to you, as our new partner — CA Tax Solutions – only charges a fee if it identifies unclaimed capital allowances of more than £50,000.
By way of background, research by big four accountancy firm, Deloitte, has found that, 9 times out of 10, capital allowances reports will uncover a tax rebate for the owner of a commercial property to the tune of thousands, or even tens of thousands, of pounds.
The basic thrust is that hundreds of thousands of UK businesses are due a hefty tax rebate from HM Revenue & Customs!
Pinpointing unclaimed capital allowances is a highly specialist field and involves a near-forensic survey of a property’s infrastructure, which highlights the items where the far more significant costs to a business lie.
These might include air conditioning or heating systems, lighting and security systems, plant and machinery items.
It’s because a specific skillset is required that we’ve teamed up with CA Tax Solutions.
In summary, if you answer ‘yes’ to the following three questions, there is a 90% chance that your property will deliver you a significant tax benefit:
- Did I/we pay more than £400,000 for the building?
- Am I/are we a UK taxpaying entity?
- Do I/we own the building outright, part-financed or with a leasehold?
If you provide us with the following information, CA Tax Solutions can deliver a no-obligation illustration of the potential benefit available to you:
- Year of purchase
- Purchase value
- Tax % rate liability for the legal owning entity
- Type of property, e.g. office, retail, hotel, care home, light industrial
To discuss this in more detail, please call us on 01392 360660. You can also calculate your potential claim by visiting www.cataxsolutions.com/calculator.html