Supporting both UK Tax Payers & Accountants
Many businesses have struggled during the pandemic
There are individuals and businesses who are eligible to claim capital allowances, on commercial properties that may have not claimed their full entitlement. As a result, they may have missed out on maximising their tax relief.
Property capital allowance review service can support both UK taxpayers and accountants. We support both groups to maximise their tax relief and build cash flow. As capital allowances can be and are utilised to generate substantial tax savings and/ or welcomed cash injections to relieve cash flow pressures that have been caused by the pandemic.
The CARS team have made structural changes to our fee model to ensure that our clients reap the benefits of a CA claim. Both over a short and longer-term period of time.
Why don’t accounting routines maximise Capital Allowance claims?
We look to enhance the level of Capital Allowance claim
There is no doubt that accountants have an established routine for assessing Capital Allowances. Here at CARS, we like to reinforce the point that we are in no way questioning an accountant’s abilities. But, rather we look to enhance a Capital Allowance claim.
We find the most efficient way to assess whether tax savings can be achieved is through conversing with accountants.
We also introduce additional disciplines that add value to the accountants’ already completed work. For example, a survey is completed on the property. This identifies items that are not visible within the paperwork and sit within Land & Buildings on the Balance Sheet (not Fixtures & Fittings). Stage Payments for leasehold improvements or property builds are also a good example of where our process creates the required detail to maximise Capital Allowances.
Is now a good time to review your client’s capital expenditure?
Trust our knowledge and expertise
Many businesses are aware of Property Embedded Capital Allowances, the process or even the benefits of claiming. But, many find themselves uncomfortable with progressing with a claim.
Our team understands that it’s only natural to be nervous or have uncertainty regarding a process in which you’re unfamiliar. Quite often, we talk to individuals who think a claim is too good to be true. But this isn’t the case.
In fact, CARS has over 20+ years of supporting UK tax payers and accountants in making CA claims. Our approach focuses on providing accurate information using our knowledge and expertise and communicating this in an open way. We work to our successful formula, which has a 100% success rate, to create trusted relationships with our clients, up and down the UK.
We look to confirm, with certainty, that a claim is possible before progressing to the practicalities of the process. This confirmation is shared with clients and their advisors to ensure all parties are comfortable with our approach.
We pride ourselves on transparency and expertise
Discover what our clients say in our testimonial
We’ve had many conversations with accountants that haven’t had a good experience with other firms. They didn’t experience transparency either and this resulted in a negative experience. However, we do things differently here at CARS.
Although we have operated for over 20 years in the industry, we have only started to recently build our Google reviews.
This is proving to be a great way to provide clients and advisors with some reassuring reading. We maintain a ‘no win, no fee’ fee structure with no upfront costs. Giving clients the peace of mind that they are not exposed to any risk in progressing a review. It’s just as important that both long-term and short-term benefits are considered when reviewing the client’s tax profile and cash flow. This is completed at the start of our process as to how the tax benefit is crystalised through Capital Allowances can differ from one case to the next.
How do I know if this is something my clients can benefit from?
It may be time for you to make a claim
We would encourage you to complete a review if you answer yes to both of the following questions:
- Has your client spent significant capital buying and/or improving a commercial property that is in use for the purpose of trade or rental business?
- Is the entity that spent the capital paying or liable to UK tax i.e. an individual, a company, a partnership, an overseas landlord, etc?
Could your clients be missing out on valuable tax relief?
Our Tax Savings Chart
* The savings chart below shows approx. value of tax savings.
Capital Allowances do not only apply to freehold property. If you have completed leasehold improvements or incurred significant costs extending or refurbishing a property you have owned for a number of years, these costs could also qualify for tax relief.
5 December 2023
Capital Allowances ManualCapital allowances play a significant role in taxation. Allowing businesses to claim deductions for the depreciation of their assets. Among these assets, plant and machinery are frequently mentioned. However, the term “plant and machinery” is not explicitly defined in tax law. It should also...
22 November 2023
Autumn Budget 2023: Changes to Capital AllowancesThe Autumn Budget of 2023 has arrived, and with it comes significant changes and developments the government has put in place. Chancellor Jeremy Hunt delivered the statement on Wednesday, 22 November 2023. For businesses and individuals alike, these adjustments in tax policies can have far-reaching implications.
Our expert team are here to help answer any of your capital allowances questions or enquires you have about your commercial property.