Care Home in Essex

A care home in Essex was purchased for Β£1.34m in 2019. Our team conducted a meticulous review of the property and uncovered Β£469,000 in unclaimed Capital Allowances.

Capital Allowance claim for a well-equipped care home in Essex

The Property

In 2020, a healthcare provider approached HMA Tax with a care home in Essex. The owner had bought the property for Β£1.34m in 2019, needing some modernisation to enhance the living conditions for the residents.

Although the owner’s accountant had claimed some costs, there was uncertainty if all the Capital Allowances available had been correctly claimed. This concern led the healthcare provider to consult our expert team at HMA Tax.

Our Approach

HMA Tax accepted the task of identifying any unclaimed Capital Allowances available to the care home owner. Our team conducted a comprehensive review of the costs incurred during the updates and modernisation, recognising that a significant amount of the capital allowances available had not been claimed.

With our extensive experience and understanding of Capital Allowances, we identified Β£469,000 of unclaimed capital allowances that were available to the owner. We supplied a detailed report outlining our findings, which included a catalogue of assets qualifying for capital allowances and the values that could be claimed.

Once we had discovered the unclaimed capital allowances, we worked in tandem with the owner’s accountants to ensure the tax savings were optimised. Our team provided ongoing support throughout the process, from preparing the essential documentation to engaging with HMRC to obtain the tax savings.

Thanks to HMA Tax’s proficiency, the care home owner in Essex was able to claim Β£469,000 in unclaimed capital allowances, resulting in a tax saving of over Β£90,000.

Our commitment to thorough reviews and personalised solutions continues to allow commercial property owners across the UK to maximise their investments and secure valuable tax savings.