Our Director’s update on Capital Allowances

As we know from speaking with our clients, many of you are concerned about the long term effects of the pandemic, especially on finances and with those concerns in mind, I want to take this opportunity to reassure you that Capital Allowance Review Service will continue to help businesses to relieve these financial pressures.

Many of you have been in touch already and we’re really pleased to have secured welcomed tax savings for you!

Here are just a few examples from recent case studies:

• A property investor and developer acquired two properties between 2018/2019.  Our client welcomed a tax saving from £211,605 of unclaimed capital allowances.
• Two care homes were built by our client during 1999 and 2009 and we identified a significant £656,718 of unclaimed capital allowances.
• A public house purchased and converted to 10 serviced apartments in 2014.  Our client received a staggering tax saving from £553,299 unclaimed capital allowances that we identified.
• Tom, a property investor, built a Holiday Let and received a tax saving from £75,572 of capital allowances from expenditure incurred.

The end result being that the value of hidden capital allowances can add up to a substantial amount – our average claim is around 25% of acquisition costs and 50% for property improvement/development expenditure.

How to reduce your tax liabilities

Understandably, cash flow may be tight for many at the moment, but please think carefully before ruling out the possibility of claiming the additional capital allowances.  You have the control to grow your finances and what better way to address the opportunity of claiming back what you’re entitled to.