Care Home in Bristol

A modern care home facility was acquired for Β£2.5m in 2022. Our team at HMA Tax conducted a detailed examination, uncovering Β£875,000 in unclaimed Capital Allowances.

Capital Allowance claim for a state-of-the-art care home in Bristol

The Property

In 2022, a healthcare provider approached HMA Tax with a newly purchased care home facility in Bristol. The property was acquired for Β£2.5m and was designed to offer state-of-the-art care and comfort to its residents.

The owner had undertaken significant fit-outs & refurbishments to provide the highest quality of care. However, they were uncertain about fully utilizing Capital Allowances and how s198/199 considerations might apply to their purchase.

Our Approach

Given the complexities of the care home sector, HMA Tax recognized the potential for significant Capital Allowance claims. Our team focused on understanding the specific fit-outs & refurbishments made to the property, as well as ensuring compliance with s198 Capital Allowances Act 2001 for the property transaction.

We engaged in a meticulous review of the renovation expenses, identifying assets that qualified for Capital Allowances. Moreover, we ensured that s198/199 considerations were accurately completed, involving our specialized Capital Allowance insights.

Our analysis led us to identify Β£875,000 in unclaimed Capital Allowances. We worked closely with the owner’s accountants to prepare the necessary documentation, liaise with HMRC, and secure the tax savings.

The expertise and tailored approach of HMA Tax enabled the care homeowner to claim Β£875,000 in unclaimed Capital Allowances, resulting in substantial tax savings. The owner expressed gratitude for our attention to detail and understanding of the s198 considerations, which provided them with a strategic advantage in optimising their tax position.