Retail property owners are often unaware that their building is holding thousands of pounds of unclaimed tax relief in the form of Embedded Capital Allowances. These are allowances on items such as fire alarm systems, security shutters, lighting, toilet facilities and counters – essentially everything that would remain in your property if you tipped it upside down.
As long as you own a commercial property and pay UK tax then you are entitled to claim. We specialise in Capital Allowances Tax Relief and our expert in-house team work exclusively in this niche area of taxation. On average it takes only 6 weeks from our initial meeting to you receiving your relief from HMRC.
Typically we would expect to find around 20% of the original purchase value of the property in previously unidentified Capital Allowances. £90K of allowances in a £450K property which translates as £36K in tax refund and/or reduction in future tax liability to a higher rate tax payer. So it’s an exercise well worth doing.
Claiming Embedded Capital Allowances is a risk-free exercise well worth considering when you own commercial property. You can estimate your total claim using our claims estimation tool or book a consultation with one of our claims specialists who can prepare an estimation on your behalf.