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Capital Allowance

Tax Specialists

01327 340 408

07964 434 932

Capital Allowances

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Claim Capital Allowances for Investment Property

So far in 2017 we have identified over £5,148,053 in likely tax savings for our clients!

An introduction to Property Capital Allowances from
Bill Loryman,
Sales Director.

This short video highlights the success of our track record and illustrates why Accountants trust us to help them with their clients.

It’s because of our understanding of the laws on Property Capital Allowances and how to use them to  save tax.

Tax changes require advanced planning.

Bill Loryman talks about the upcoming changes to tax law.

HOW MUCH CAN YOU CLAIM?

The amount of Property Capital Allowances claimable is different for every industry. They range from 10-15% for HMO’s with up to 45% for Care Homes and Hotels. The lettings industry can claim for all the ‘assets’ in the commercial and non-dwelling areas.

WHO CAN CLAIM?

You must be a UK tax payer and be paying tax. Typically you will receive a rebate against your last 2 years tax, you will offset the Allowances against this year’s tax bill and if there is any excess, carry that forward to mitigate your future tax bills. You will also need your portfolio to be worth at least £250,000 to make it worthwhile.

In April 2014, the law on Property Capital Allowances changed, putting serious responsibility on solicitors and accountants to properly identify the Allowances within the sales contract. They are struggling to get it right for both sellers and buyers as a recent article in Taxation.co.uk confirms.

"There will be wave upon wave of litigation as disappointed tax payers  seek retribution from their advisors (solicitors, accountants, surveyors) whom they will hold responsible for their loss of Property Capital Allowance tax relief on the purchase of their commercial purchase”.

When you are either buying or selling a commercial property (includes HMOs) give us a ring for advice. We are here to help.

Knowledge and Experience

Property Capital Allowances should not be considered in isolation and a little knowledge can be a dangerous thing. Your professional Capital Allowance advisor needs to have a detailed understanding of taxes (VAT, stamp duty, income tax, corporation tax, capital gains tax & inheritance tax) coupled with an in depth understanding of the statutory requirements, the ability to conduct detailed  property surveys, and the experience to be able to present logical, sustainable and evidenced reports to HMRC.

We are Chartered Accountants with a 10 Year, 100% record of success in submitting claims to HMRC.

CAN WE HELP YOU?

If you own a portfolio of HMOs, Multi-lets, Student lets, Holiday lets or Commercial Property worth over £350,000 and pay 40% tax or are moving close to paying that band...

WE CAN DEFINITELY HELP.

Send us your property details and we will prepare an illustration of the likely tax savings we can help you and your accountant achieve in 2017.

The law on Property Capital Allowances came into full effect in April 2014.
If the Allowances aren’t identified at the point of a sale they will be lost to both parties forever.

Contact us today on 01327 340408

Our own research with over
1,000 clients confirms HMRC’s
recent statement:

“Over 90% of commercial property
owners have not claimed the
Capital Allowances due to them”

Are you one of them?

Q: What are Capital Allowances?

Surely my accountant has already claimed Capital Allowances for my investment property against all the invoices I have already submitted?

 

The answer is NO!

Unless you have had a survey by an experienced Capital Allowance expert (usually 10-12 pages with photographs and the list of everything claimable) then you have definitely NOT claimed all the Capital Allowances you are entitled to.

 

These Capital Allowances have been enshrined in law since 1878 and are available to be claimed by investment property owners.

 

Claim Capital Allowances now to start saving tax

HMO Tax can help. We provide a very specialist tax service with a 10 year

success record and help many accountants and solicitors with our tax and survey advice.

 

What can you claim for HMO’s, (Houses of Multiple Occupancy) – licenced or unlicenced, student lets, multi lets or holiday lets?

 

The amount of Capital Allowances available in investment properties are different for each industry and relate to the purchase price and development costs. They range from 10% for HMO’s with up to 40% for hotels and care homes.

 

The lettings industry can claim for all the ‘assets’ in the communal/non dwelling areas of their HMO properties – usually between 10-15% of the purchase price and improvement costs. Each property is different and every investor’s tax situation is unique and very personal.  We are here to help you with tax advice, to work with you (and your accountant) to submit claims to HMRC.

 

We have a 100% success record over ten years as Chartered Accountants in submitting claims to HMRC.

 

Q: Do you buy or sell

HMO investment properties?

If you do, are you or your solicitor aware of the consequences of not understanding Section 198 of the Finance Bill 2012, and how it could cause you to lose significant tax saving benefits at the point of closing the transaction?

capital allowances for investment property like this hotel

Testimonial

''Christopher Bailey met with my client and explained the process. I was initially sceptical but, having seen the process work (and their involvement and guidance through all the stages), we are happy to recommend other clients.
The claims were submitted and our clients have received refunds of tax without questions being asked by HMRC’.

L.G. – Middlesbrough – Chartered Accountants

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Call now for an illustration:

01327 340 408 or 07964 434 932

Bill Loryman - Managing Director

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