Combatting the constant struggle
To fully understanding the intricacies of capital allowance legislation, it requires significant time and due diligence from accountants. In most cases, accountants don’t have the time and resource to do this alone, and those that do, don’t have the surveying, valuation & legal disciplines to deliver the capital allowance knowledge affectively.
With ever changing HMRC updates, expert help is becoming even more important. PEFF (Property embedded fixtures and fittings) claims are being frequently overlooked, restricted, or even incorrectly submitted resulting in thousands of pounds being lost in tax relief that clients could have benefitted from.
The benefits of partnering with a capital allowance specialist
Our team is able to work alongside you and your firm as an in-house capital allowance division, giving you the extra department and resource within your business without the additional costs.
It could be as simple as having a third-party expert that you could trust to provide technically sound advice delivered in a manner that helps protect and build your client relations.
Keeping loyal clients
Our partnerships look to tackle the risk of your clients being poached, as a result of being contacted directly by unknown third parties. We help accountants take a proactive approach, whilst removing the required time and pressure from you and your team.
We share fees with those accountants we support to fully recognise the success of our partnership. Successful partnerships are currently in place with many accounts across the UK, ranging from very small firms to very large firms.
Proactive Approach: We’ll work alongside you and your team to assess which clients could benefit from a capital allowance review.
Reactive Approach: When clients come to you with questions relating to capital allowances. Or, changes in the legislation have created uncertainty and confusion with your team when reviewing a client’s position.
Our process overview
One of our Directors will discuss the case either directly with you or your client (this is dependant on yours and your clients preference) to establish an overview of the clients tax profile. When it’s considered a client could potentially benefit from capital allowances, we carry out an initial review to determine if & how.
After completing the required due diligence, if a claim is possible, we’ll prepare a forecast claim illustration for discussion. This illustration is typically discussed internally (you & us) before presenting to the client (we do not contact the client until it has been agreed upon).
Our fee structure removes all risk from the client. There are no upfront costs and we typically charge a percentage of the claim we secure. Where a contingent or percentage fee isn’t the right approach to take, this would be discussed. The approach to our commercial terms is simple – it makes sense, it’s transparent, and it is fair.
Presentation to client
Once we (you & us) are comfortable a client’s tax profile will benefit from a full review, it is only then presented to the client.
We are here to assist with any questions that may arise for 12 months after the claim has been completed, this being from HMRC, yourselves or your clients.
Explore more about Our Process
What can we bring to the table?
Our team has every aspect of capital allowances, relating to property, covered.
We have a team of specialists surveyors and valuers, that physically inspect and assess your client’s property for PEFFs that wouldn’t have otherwise been identified through invoices. This extra discipline being added to accounting routines has a significant impact on securing additional tax savings.
Having an understanding of property law is also a key consideration to determine a client’s ability to claim. We have a property lawyer on our team, which often provides a critical part of our due diligence and support.
We also have an EX-HMRC inspector on our team that specialises in capital allowances, along with tax experts and chartered accountants. This gives us a wide array of knowledge and experience.
A key part of our approach, which is frequently recognised by accountants & clients, is having case managers and a process overseen by an operations manager. This helps us deliver our technical expertise in a manner that achieves a high standard of service.
We’re really proud of our team and enjoy working with accountants across the UK.
A property lawyer
Specialist surveyors and valuers
Tax experts and chartered accountants.
Case managers and an operations manager
What is needed from you?
Our approach has been refined so it interlinks well with busy accountants. We, therefore, take full responsibility for the claims we prepare and manage each claim ensuring you are updated with progress.
We would recommend allocating some time out for in-house training on how to approach the subject of capital allowances with clients and any trigger points to look out for. We encourage quarterly 30-45min training sessions that cover areas that you request (capital allowance specific only please!).
We need you’re help providing documents that help our understanding of the clients position and enable us to complete our due diligence. Thankfully these documents will probably be already sitting in your files e.g. accounts, tax returns, fixed asset registers and repairs & renewals. Although property documents will be needed (e.g. property purchase contracts, CPSE.1, etc), these can be requested from the client after the principle of a full review is determined.
- 30 January 2023
Super-deduction: Going but not forgottenSuper-deduction is a capital allowance that allows companies to claim 130% capital allowances on qualifying plant and machinery. It allows businesses to make additional investments in their company. This tax relief was put in place to help aid businesses during the pandemic but it was just for a limited...
- 24 January 2023
January 2023 deadline toolkitAs the end of the financial year draws closer, it’s getting close to the time of ‘Self Assessments’, as well as when any amendments to tax returns need to be completed. At CARS we’re working hard to support accountants and their clients to reduce tax liabilities. Our team of experts...
Our expert team are here to help answer any of your capital allowances questions or enquires you have about your commercial property.