Background
The Six Bells is a family run pub, restaurant and inn situated in the beautiful countryside of Berkshire. The property offers four en-suite accommodation rooms, conference facilities and boasts an AA four-star rated kitchen.
The building was purchased in 2003 for £400,000.
£126,000
Capital allowances uncovered
£37,000
Unlocked in total tax savings
£7,000
Cash rebate
What owners Mr & Mrs Harman said . . .
“We had no idea our business property was sitting on such a big entitlement! Zeal took the time to explain everything in detail. They took care of everything on our behalf, even when there was a query from HMRC. We cannot fault the service!”
Overview of the claim
Although the owners were sceptical at first, once our team explained that claiming on the ‘embedded fixtures’ within their property would result in a significant tax refund and future tax savings, the owners were happy to proceed. A specialist property survey completed by Zeal identified over £126,000 in capital allowances which the owner’s accountant was unable to claim for them.
Qualifying items
Qualifying items included electrical, water, ventilation and heating systems, telecommunications, sanitaryware, fire and security alarms plus kitchen facilities, bar units and beer pumps. Following submission, HMRC raised a query relating to one of the partners. However, luckily for the owners, Zeal deal with HMRC on behalf of clients as part of our service - all included in our fee. Our tax team quickly resolved the issue and secured around £37k in tax savings for the owners including a sizeable cash tax refund of over £7,000.
Our associations
We bring our specialist knowledge to the sector through our associations and membership with the Pubs Advisory Service (PAS).