Why are these items missed?
Until the Accountant, owner or leaseholder instigates the process of identification, (Room by Room survey with appropriate costing of these qualifying items) the items will remain unclaimed. This means a substantial benefit available to the Client will remain hidden.
The Accountant’s review normally begins and ends with analysing invoices and following the paper trail. Our Capital Allowance Expert will visit your property to identify items that are invisible within the paperwork.
Who can claim the benefit?
The tax benefit is available to the party that incurred the relevant expenditure or purchased the property. This could be an individual, a Company, Partnership etc.
How is the benefit claimed?
The claim is used to generate a tax refund where possible. It 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.
Let Us Help You To Succeed
Allow Capital Allowance Review Service help you succeed by completing a room by room survey to unlock the hidden potential of a substantial tax saving.
“We spend January 1 walking through our lives, room by room, drawing up a list of work to be done, cracks to be patched. Maybe this year, we ought to walk through the rooms of our lives… not looking for flaws, but for potential” — Ellen Goodman
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.