Background
The South Wales Barber Shop is a community-based men’s hairdressers in Treharris. Located in a mixed-use building, the salon is located on the first floor above a large retail space that the salon owner currently rents to another business. The property was purchased for a total of £132,500 in 2005.
£60,000
Capital allowances uncovered
£17,000
Unlocked in total tax savings
What the owner said . . .
“Amazing, honest company who know their stuff. I was sceptical at first but soon realised they were very professional at what they do and have helped me out a lot with my tax, saving me thousands of pounds. I would highly recommend them. They kept me informed at every step and made my claim a pleasant, easy process.”
Overview of the claim
After Zeal informed the owner of his eligibility to claim thousands in tax relief, he asked our team to work directly with his accountant to progress his claim as quickly as possible. Recognising the value this claim would provide their client, and realising that it was not something they could do, the accountant was happy to help. Less than a week later, a virtual technical survey of the property was completed by one of Zeal’s expert surveyors to scope all eligible items.
The result
Around 45% of the property’s original purchase price was identified in qualifying expenditure, including uncommon motor vehicle control equipment in the retail space below the barbers.
Over £17k in tax savings was generated for the owner which would otherwise have gone unclaimed, including a cash rebate of more than £4,000. Additionally, the owner’s next tax bill was reduced by more than half. The entire process from start to cash rebate was completed in under six weeks. The owner was over the moon with the result and stated that Zeal had saved his business.