If you own property our capital allowances service provides a low risk opportunity to substantially reduce tax liabilities using statutory provisions and case law.
Situations which will qualify:
- Freehold or long leasehold commercial property is owned
- Commercial property has cost more than £300,000
- The property is owned by individuals, companies, partnerships or trusts
- Off-shore property can be owned provided it’s subject to UK tax
- Refurbishment or alterations have taken place on an existing commercial property
Since April 2014 anyone buying or selling commercial property needs to consider capital allowances.
Remember, purchasers of property can’t claim capital allowances unless the qualifying expenditure has been identified and pooled by the person selling the property. Given that not doing so can cause delays on property completions and may adversely affect the value of a property, it’s worth thinking about capital allowances before you enter into any property transactions.
Case Study: Capital Allowances
Capital Allowances can be claimed when a business owner buys an asset for their business, the business owner can then deduct some or all of the value of the item from their profits subject to tax.Read case study
We’re a little different in how we approach capital allowance projects. Our fees are based on a low percentage of qualifying expenditure identified in our report. Unlike other providers we invoice half the fee on production of the report and the final half when HMRC agree the claim, usually 12 months later. This will give you a cash-flow advantage and greater certainty as to the success of the claim. Should the claim be reduced as the result of HMRC challenge our fee is reduced accordingly.
We also have a set of FAQs on capital allowances that you might find useful here.
No claim, no fee
No fee is payable for the initial eligibility assessment or survey of the property. If no qualifying expenditure is identified then there is no fee.
A few other reasons why the Bedrock approach to capital allowances is different:
- We use specialist surveyors with over 25 years capital allowance experience
- Our reports are in the HMRC approved format
- Complimentary review of disclosure in amended tax returns
- Defence support of HMRC enquiry up to and including First Tier Tribunal
Why not contact the Bedrock team for an initial free consultation.