If you own a portfolio of Serviced Apartments, Multi-lets, Student lets, Holiday lets or Commercial Property and pay 40% tax or are moving close to paying tax in that band...We can definitely help.
Send us your property details and we will prepare an illustration of the likely tax savings we can help you and your Accountant achieve.
In April 2014, the law on Property Capital Allowances changed, putting serious responsibility on Solicitors and Accountants to properly identify the Allowances within the Sales Contract. They are struggling to get it right for both sellers and buyers as an article in Taxation.co.uk confirms.
“There will be wave upon wave of litigation as disappointed tax payers seek retribution from their advisors (solicitors, accountants, surveyors) whom they will hold responsible for their loss of Property Capital Allowance tax relief on the purchase of their commercial purchase”.
When you are either buying or selling a commercial property give us a ring for advice. We are here to help.
Property Capital Allowances should not be considered in isolation and a little knowledge can be a dangerous thing. Your professional Property Capital Allowance advisor needs to have a detailed understanding of taxes (VAT, Stamp Duty, Income Tax, Corporation Tax, Capital Gains Tax & Inheritance Tax) coupled with an in depth understanding of the statutory requirements, the ability to conduct detailed property surveys, and the experience to be able to present logical, sustainable and evidenced reports to HMRC.
We are Chartered Accountants with a 14 Year record of success in submitting over 4,000 claims to HMRC.
We believe over 90% of Commercial property owners have not claimed the Property Capital Allowances due to them.
The law on Property Capital Allowances came into full effect in April 2014. If the Property Capital Allowances aren’t identified at the point of a sale, they will be lost to both parties forever.
Contact us today on 01327 340408
SKS Bailey Group registered within UK with Company registration number 12748942. Registered office: C/O 30 Yoden Way, Peterlee, County Durham SR8 1AL