Zeal Logo

< Case Studies Smythen Farm Holiday Cottages

Background

Smythen Farm is a complex of furnished self-catering holiday cottages on the edge of Exmoor National Park, North Devon.

The country retreat offers nine cottages which all boast beautiful coastal views. Further onsite facilities include an 18-acre recreation field, a large outdoor play area, a game complex plus a heated indoor swimming pool and hot tub.

The current owners purchased the property in February 2010 for £1,100,000.

£272,000

Capital allowances uncovered

£114,000

Unlocked in total tax savings

£10,000

Cash rebate (after fees)

What owners
Mr & Mrs Carless said . . .


“Wow . . . I can’t fault them in any way. It is not often you receive a call that leads to over 100K in tax savings. Well that’s what happened. Fantastic service, great people to deal with and a speedy outcome''

Overview of the claim

Mr & Mrs Carless were elated to discover that their property was hiding thousands of pounds in tax relief which could be unlocked by our team.

The call brought further welcomed news, revealing that as no previous capital allowances claim had been completed, the owners were eligible to reclaim a substantial amount of tax relief for the embedded fixtures within their nine cottages and other onsite buildings.

Qualifying items

The following week, a qualified in-house surveyor visited the property and completed a technical site survey valuing the full scope of eligible qualifying items including: electrical, heating and ventilation systems, hot and cold water, kitchens, sanitaryware, fire security systems and telecommunications.

These unclaimed allowances amounted to more than £110k in tax savings and generated a cash repayment of almost £10,000 in addition to wiping out the owners’ next tax bill. It took less than 4 weeks from the initial phone call from our team for the owners to receive their refund from HMRC.

Our associations

We bring our specialist knowledge to the sector through our associations and memberships with:

- Short Stay Accommodation Association
- Association of Scottish Self Caterers
- Professional Association of Self Caterers