Two examples of cases we worked on in 2020
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A furnished holiday let in Dorset:
- Build Cost £300,000
- Allowances Found £111,136
- Total Tax Savings** £23,338
The client concerned was a 20% taxpayer, however as the expenditure was in the 2019/20 tax year, Annual Investment Allowance (AIA) was available, allowing the full benefit created of £23,338 to be realised against tax liabilities due on 31 January 2021.
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For a dental practice in Leicestershire:
- Property Cost £400,000
- Allowances Found £120,584
- Total Tax Savings** £48,234
The client concerned was a 40% taxpayer, with the result that he received an immediate tax refund of £6,350, tax savings of £5,356 against his tax due on 31 January 2021, and (assuming similar profits and tax rates) further future tax savings in the sum of £36,578.
If capital has been spent buying and/or improving a commercial property, then there’s a high probability to be a significant tax saving available!
We have worked closely with accountants to enhance the level of Capital Allowances already claimed that has helped clients to mitigate their deferred Income Tax payment and future tax liabilities. Could we help you?
By acting now could secure any significant tax savings! Contact us to find out if you can claim.
Latest News
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1 October 2024
Our Founder, Paul Roberts, Retires From CARS
Over 25 years ago Paul Roberts founded our company and created the successful firm it is today. It is with mixed emotions that we announce Paul’s retirement from Capital Allowance Review Service (CARS). While we will miss his leadership and unique sense of humour, we recognise that he deserves to spend... -
12 September 2024
The High Cost of Overlooking Capital Allowances
Understanding tax benefits and capital allowances is crucial in the world of property investment. Overlooking these aspects can result in significant financial losses. This article explores a real-life case where a couple’s lack of knowledge and expert advice led to a costly mistake. Early involvement...
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Our expert team are here to help answer any of your capital allowances questions or enquires you have about your commercial property.