Have you spent capital buying or improving commercial property?

You are probably sitting on significant hidden tax savings just waiting to be released through a Capital Allowances claim.
Contact Capital Allowance Review Service today to request a free consultation.

Have you spent capital buying or improving commercial property?

You are probably sitting on significant hidden tax savings just waiting to be released through a Capital Allowances claim.
Contact Capital Allowance Review Service today to request a free consultation.

Property Capital Allowances

Capital Allowance Tax Claim on Commercial Property and Buildings

Capital Allowances allow commercial property owners to claim qualifying items of capital expenditure as a tax deduction and are a valuable tax relief. The aim of our Property Capital Allowances claims is to recover tax paid and reduce tax liabilities for companies and individuals that have spent capital buying and/or improving commercial property. Property Capital Allowances are also an important factor when buying and selling commercial property. Getting the right advice is crucial in satisfying new legislation and securing tax savings for you and your business.

The Concept of PEFF's

Property Embedded Fixture & Features



The tax savings from an additional layer of scrutiny by Capital Allowance Review Service highlighting previously unthought of capital allowable items embedded within a commercial property is significant.

Claims handled by Capital Allowance Review Service in the past 12 months have ranged between £59,000 and several million. Nearly all of our cases show businesses typically claim less than 50% of entitlement.

The Background:

‘Property Embedded Fixtures & Features’ (PEFFs) are a specialist element of the well-known subject of ‘Capital Allowances’.

A Capital Allowance being a taxable benefit against expenditure on ‘Plant & Machinery’ for the purpose of the trade. As a matter of course, Accountants identify ‘MOVABLE’ items which qualify for Capital Allowances. These movable items include; desks, chairs, computers, cars etc.

However, Accountants in most, if not all occasions are unaware of the qualifying Integral Fixtures & Features embedded within the property that is essential for a business to carry out its trade.

This leaves an enormous wealth of unclaimed qualifying ‘IMMOVABLE’ items on which Capital Allowances can be claimed, such as lifts, heating systems, security systems, sanitary systems, kitchens, etc., These items which were either inherent within the property at the time of acquisition or that have been subsequently installed.

Why are these items missed?

Until the Accountant, owner or leaseholder instigates the process of identification i.e. a ROOM BY ROOM SURVEY with the appropriate costing of these qualifying items, they will remain unclaimed and a potential substantial benefit to the Client will remain hidden.

Who can claim the benefit?

The tax benefit is available to the party that incurred the relevant expenditure or purchased the property i.e. an Individual, a Company, Partnership, etc.

How is the benefit claimed?

The claim is used to generate a tax refund where possible and is used as a tax credit to reduce future tax liabilities. Capital Allowance Review Service ensures the tax benefit is incorporated in the most efficient way for the Client’s circumstance.

As part of our comprehensive service, once we have highlighted the unclaimed capital allowances we request any available tax repayments from HMRC. Capital Allowance Review Service submits the request to HMRC on behalf of the Client and provides support for a further 12 months.

If you would like to talk to an expert, please contact us.

Look Further, Look Deeper
Information for Accountants
Information for Solicitors
Buying/Selling Commercial Property
S198 Election Explained
Commercial Property Standard Enquires (CPSE.1)
Furnished Holiday Lets (FHL)
Enhanced Capital Allowances (ECA)
The Annual Investment Allowance (AIA)
Misconceptions
Our TV Interview
Could you claim?