Important!
Furnished Holiday Regime Abolishment Update
After a long wait, we have finally received an update from HMRC about the abolition of the Furnished Holiday Let (FHL) tax regime.
Here is what HMRC have announced – “Businesses with FHL properties will no longer be eligible for more beneficial capital allowances treatment but will instead be eligible for ‘replacement of domestic items relief’ in line with other property businesses — where an existing FHL business has an ongoing capital allowances pool of expenditure, they can continue to claim writing-down allowances on that pool — any new expenditure incurred on or after the operative date must be considered under the property business rules.”
This means that if you have clients with an FHL, now is the time to reach out to us for advice on making a claim before it’s too late. Although there is no requirement to file a claim before the regime is abolished in April 2025, it is important to make any purchases related to planned improvements before this date. Learn more about the announcement.
We are the Capital Allowance specialists
Did you know businesses in the UK typically underclaim their capital allowance entitlement?
We specialise in reducing your tax liabilities, as well as recovering any outstanding tax paid against commercial property in the UK, that you have spent capital buying and/or improving.
Our expert team will work with you to establish whether a claim is possible. If so, we will deal with all aspects of the claim from start to finish, including dealing with HMRC after the claim has been submitted.
Our Expertise
-
-
Commercial Property Legal Pack
Whether you are buying or selling a property, our experts are here to help.
-
Section 198 Election
A Section 198 Election, of the 2001 Act, is a document that secures the Property Capital Allowance positions...
-
Full Expensing
Full expensing (FE) refers to a tax policy that allows businesses to fully deduct the cost of certain capital investments in the year they are made, rather than having to claim for the cost of those investments over several years.
Adhering to Code of Conduct Standards for RICS, RICS Registered Valuers, Chartered Tax Advisers & ICAEW Chartered Accountants.
Recent Cases
-
Catesby IC Property Ltd
Industry: Education & Office
- £3,200,000
- £498,391
-
- £12,000,000 +
- £1,662,199
-
- £23,457,881
- £4,127,252
See how much of a tax relief you could achieve
Our NEW Accountants Brochure
Download our Brochure Specifically for Accountants
With over 20 years of experience in Property Embedded Fixture and fittings (PEFFs) claims, our team has now created a useful brochure to show how accountants can benefit from a trusted partnership to achieve great results for their clients.
Learn what makes PEFF claims so valuable, and discover the valuable tools to identify potential clients who could benefit from these claims. Plus, we provide you with the packages to support you with processing these claims.
Download our Accountants Brochure
Our Awards
We’re an award-winning business and here are a couple of our most recent achievements as a team.
-
Best Independent Tax Consultancy Firm
-
Finalist Specialist Team of the Year
Why Choose Us?
At Capital Allowance Review Service, we specialise in property capital allowance recovery.
Our services are for use of businesses that have outstanding capital allowance claims available to them, in relation to commercial property.
Since the beginning, we have carried out retrospective Capital Allowance claims for businesses across the UK. These have resulted in repayments of tax. Plus, credit going forward, offsetting future tax liabilities.
Claims can arise due to the complicated nature of the laws governing Capital Allowances and the frequent changes that have taken place over recent years. Our specialist team is committed to remaining up-to-date with legislation, and therefore is knowledgeable in all aspects of CA.
Recognising all assets that are eligible for Capital Allowances, in particular, those that are inherent within a property. This usually arises from a lack of detailed information available to the Accountant when claims are made.
Duplicate Item Check
Removing items that have already received tax relief and ensure items are not submitted twice to HMRC.
Free Initial Assessment
Ensures we fully understand both the Clients tax position, expenditure and property/projects.
Amended Tax Returns
We amend tax returns so you or your Accountant do not have to and recover any tax refund for the client.
We Deal Direct With HMRC
Our team supports you in all aspects of the claim if ever challenged.
