Background
Gate House Brides is a well-established high street wedding boutique a short distance from the city centre of Worcester. The retailer rents the building space from a private commercial landlord. There is also a residential flat above the showroom which does not qualify for tax relief as it is not used for business purposes. The whole building was purchased in 2007 for £179,000
£18,000
Capital allowances uncovered
20%
Unlocked in total tax savings
What owner Mrs Stubbins said . . .
“ I was initially quite sceptical of the service and found it quite hard to believe that there was such a substantial amount to be claimed within my property. So as I do with everything, I forwarded the information on to my accountant for him to make a decision. After my accountant had read through the proposal I quickly received the go-ahead. I’ve got to say that this was probably one of the most straightforward things I’ve done. From the first call through to the claim being submitted. It’s not often you can do less than an hour's work in return for a four figure sum of money. Having been such a big help to me I'd recommend them to anyone “
Overview of the claim
As the property landlord of Gate House Brides, Mrs Stubbins receives the tax benefits generated from the capital allowances claim for the embedded fixtures within the commercial building, not the retailer who occupies the space. Even though there was a residential flat above the boutique (which does not qualify for tax relief), this did not prevent a claim being made for the commercial space. After our team revealed the potential amount of unclaimed tax relief within the property, Mrs Stubbins was initially sceptical and sought the advice of her accountant for reassurance. He urged her to proceed without delay, admitting that even though this was not something they covered, they know how beneficial claims can be.
Qualifying items
Within the proportion of the building used for commercial purposes, approximately £20,000 in embedded fixtures and fittings was uncovered during the technical site survey. Qualifying items included electrical, heating and ventilation systems, hot and cold water networks, kitchen fixtures, sanitaryware and disposal installations, ironmongery, a fire security system and telecommunications. The landlord had no idea she was eligible to claim before speaking with our team and was amazed to receive a four-figure sum in tax repayments in such a straightforward process, which took up less than an hour of her time.