A1 Accounting, Audit & Tax Awards 2017
Chris Roberts was invited to talk through the firm’s services and future plans.
“Capital Allowances Online Group merged with Capital Allowance Review Service in 2013 to offer a Property Tax Consultancy business who can deliver strong advice to your business. As a team, we are strengthened by a set of multi skilled staff who have been operating for over 60 years. These include Chartered Accountants, Tax Experts, Ex-HMRC Inspectors, Surveyors and many other qualified individuals to ensure that we reach the highest level of due diligence. The firm has a wide range of Clients, mainly comprising of companies and individuals who have spent significant capital acquiring and/or improving a commercial property. 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.”
Case Study
Recent Clients include Lavenders Care Home, a family run care home in Kent which has been running for 35 years. In 2014 we were appointed to complete a full Property Capital Allowance review after many years of extensive and unclaimed improvements work. Capital Allowance Review Service analysed the property expenditure of £1,105,059 and generated of £392,850 capital allowances; producing an overall tax saving of £157,140. Due to the tax already paid by the owners they 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.
Overview
Tax relief available from Property Embedded Fixtures & Features has been around for over 100 years. They are routinely missed due to accounting procedures only picking 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. Alongside its work recovering taxes for our Clients, we are also dedicated to supporting our peers in the tax industry by 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. Moving forward Capital Allowance Review Service are keen to continue to embed our services within organisations that both advise and support the commercial property sector.
Latest News
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5 December 2024What Are Qualifying Activities for Capital Allowances?
Capital allowances are a key tax relief available to businesses for qualifying activities. They allow businesses to deduct the cost of certain capital expenditures related to these activities from their taxable profits, reducing their overall tax burden. However, not all purchases or investments qualify.... -
3 December 2024How Do CARS Assess Capital Allowances?
At CARS, we assess capital allowances and offer businesses and property owners a significant opportunity to reduce their tax liabilities by deducting qualifying capital expenditures. Here at Capital Allowance Review Service (CARS), we provide a thorough process to optimise these claims. Our goal is to...
Contact Us
Our expert team are here to help answer any of your capital allowances questions or enquires you have about your commercial property.