Best Property Capital Allowance & Tax Recovery Firm – UK
Capital Allowance Review Service is staffed by a large team of Chartered Accountants, Tax Experts, Ex-HMRC Inspectors, Surveyors and many other qualified individuals ensuring a high level of due diligence is achieved.
We are a specialist company with over 15 years experience in highlighting embedded fixtures, fittings and features within commercial property that qualify for tax relief. Our expertise results in a substantial recovery of tax paid and a reduction in corporation or income tax liabilities.
Our dynamic team operates from our offices in the Midlands and London. Our broad range of skills offer an outstanding Client service and is well positioned to deliver strong advice to your business. There are over 60 members of staff who have a range of skills and professional qualifications to ensure clients receive the best quality service possible.
The firm has a wide range of Clients, mainly comprising of companies and individuals that have spent significant capital acquiring and/or improving commercial property.
Lavenders Care Home - Case Study
One client we have recently worked with is Lavenders Care Home, a family run care home in Kent which has been running for 35 years. In 2014 our firm was appointed to complete a full Property Capital Allowance review after many years of extensive and unclaimed improvements work. We analysed the property expenditure of £1,105,059 and generated £392,850 capital allowances, producing an overall tax saving of £157,140. Due to the tax already paid by the owners we were able to claim back a tax refund in the first year to the sum of £55,762, which was an excellent result for the client.
This example highlights the fact that Capital Allowance Review Service Ltd, are totally dedicated to the tax benefits available from commercial property resulting in significant tax recovery and reduction in tax liabilities for our clients. Commercial property acquisition and improvement costs incurred by a UK taxpayer anywhere in the world is eligible to claim Capital Allowances on expenditure incurred on qualifying plant and machinery.
Tax relief available from Property Embedded Fixtures & Features has been around for over 100 years, yet are routinely missed as accounting procedures usually only pick up on expenditure for movable items that are covered by an invoice. Our role is to identify and establish the full value of qualifying items that are embedded in the fabric of the property.
When undertaking a new project our dedicated staff communicate with the client through every step of the process. Our role includes everything from our original discussions and explanations of the concept; checking there is a valid claim; discussions with the client and accountant (where necessary); collating the documentation; checking accounts and legal documents; conducting surveys and valuations; compilation and processing including submission to HMRC and dealing with any queries they may have directly. We visit the property in question, identify the items that are invisible within the paperwork and prepare a full report for submission to HMRC. As part of our services we will also help clients to safeguard capital expenditure for any future Capital Gains calculations.
We take responsibility for dealing directly with HMRC for up to the 12 months after the claim has been submitted ensuring that our clients feel fully supported and properly advised every step of the way.
Alongside our work recovering taxes for our clients, we are also dedicated to supporting our peers in the tax industry, helping them to enrich their knowledge and understanding. We were part of the HMRC working party that created the new legislation, with a 100% claim record to date.
In addition we support all types of property advisors and agents e.g. accountants and solicitors, and we work tirelessly to ensure that research is maintained so that we are up to date with current tax legislation and able to offer relevant support and advise, both to our clients and our industry colleagues. We provide our expertise to one of the UK’s leading suppliers of help and support to the accounting profession, and we need to be certain that the information we provide to them is accurate. We take our research very seriously.
Moving forward we are keen to continue to embed our services within organisations that both advise and support the commercial property sector. To achieve this we are increasing our brand promotion through a new website and TV advert both of which will be launched in March.
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.