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Serviced Apartments, Holiday-let & Student-let Tax Savings Explained

Are you aware that you can claim (Property Capital Allowances) for Serviced Apartments, Student-Lets, Multi-Lets & Holiday Lets?

The lettings industry can claim for all the “assets” in the communal/non-dwelling areas of their letting properties.

This is usually 10% - 25% of the purchase price and development/improvement costs.

Property Capital Allowances for Serviced Accommodation, Holiday-lets & Student-lets

If you own these types of property, you can usually claim Property Capital Allowances even if bought after 2014 and no claim was pursued at the point of the sales contract (i.e. separate rules apply to these classifications of property) As a firm of Chartered accountants who specialise in this area, we can virtually guarantee you that you are missing out on tax rebates from HMRC if you have not had a full Property Capital Allowance survey on your properties.

Who Can Claim?

You must be a UK tax payer and be paying tax. Typically, you will receive a rebate against your last year’s tax, you will then be able to offset the Allowances against this year’s tax bill and if there is any excess, carry that forward to mitigate your future tax bills.

Q. Surely they have been claimed by myself or my accountant against all the invoices I have already paid and claimed for in improving my Serviced Apartments, Holiday Let or Student-let?

The answer is NO!

Unless you have had a survey report from an experienced Property Capital Allowance organisation (usually 12-15 pages with photographs and the list of everything quantified and claimable) then you have definitely NOT claimed all the Property Capital Allowances you are entitled to. These allowances have been enshrined in law since 1878 and are available to be claimed by commercial property owners.

Our message is simple: Talk to us now to start saving tax!

Serviced Apartments, Holiday-Let & Student-let Examples

Purchase Price: £565,000
Capital Allowances: £71,017 

Tax Saved: £14,150

Purchase Price: £305,000
Capital Allowances: £36,619

Tax Saved: £15,673

Purchase Price: £311,250
Capital Allowances: £44,339

Tax Saved: £18,800

Purchase Price: £305,000
Capital Allowances: £28,325

Tax Saved: £12,123

Purchase Price: £350,000
Capital Allowances: £71,357

Tax Saved: £30,541

Purchase Price: £276,500
Capital Allowances: £34,919

Tax Saved: £14,806

Here are some more recent examples

Total Cost Property Capital Allowances Tax Saved
Mr. T £136,000 £10,880 £2,176
Mr. M £331,000 £26,480 £5,561
Mrs. E £365,000 £35,000 £8750
Mr. D £687,000 £63,400 £25,300

These are all net figures after paying our fees, which are a small percentage of the Property Capital Allowances identified.

If there are no savings to be made there is no fee. Let us show you how: Answer just 6 questions and we will send you a no obligation illustration of your likely tax savings.

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