Background
Established in 1990, Gateway is a leading assisted living provider in South Wales that specialises in providing tailored care and support to individuals with mental health needs, personality disorders, learning disabilities and substance misuse issues. In 1990, 1999 and 2003, the provider company purchased three properties, spending a total of £297,350.
£78,000
Capital allowances uncovered
£31,000
Unlocked in total tax savings
£11,000
Cash rebate
What owner Mr Owen said . . .
“We had no idea that our properties would be classed as commercial buildings and therefore eligible for this type of claim. Our accountant knew about it but advised that we speak with Zeal as they are specialists . . . and indeed they were. We’re thrilled with the amount of tax relief we were able to claim and we also received a nice sum as a cash rebate for overpaid taxes we didnt even know we’d paid!.”
Overview of the claim
Following advice from their accountant the owners sought an estimate from Zeal of the tax relief available to them. The team prepared a detailed proposal and collated the necessary information required from the client to progress the claim. A few days after approval of the proposal, one of Zeal’s qualified in-house surveyors visited all three properties to ensure the full scope of qualifying ‘embedded fixtures’ was uncovered. This enabled our tax specialists to compile a valuation report to file with HMRC.
Qualifying items
The Capital Allowances survey identified qualifying items such as ironmongery, disposable installations, alarms and kitchens and bathrooms, plus special rate expenditure such as electrical, heating, ventilation and hot and cold water systems. Over 25% of the combined purchase price was identified in unclaimed allowances, resulting in £31,000 in future tax savings for the owner. This also included a cash rebate of £11,000 for overpaid tax.