We are excited to announce a new collaboration between Zeal and PASC UK.
As part of this partnership, Zeal’s expert team will work closely with PASC UK members to identify missed tax savings through unclaimed capital allowances, before it’s too late, and ensure they get the full benefit of what’s available to you before the FHL tax rules change. This could mean significant financial advantages for self-catering businesses.
What are Capital Allowances?
Capital allowances are a form of tax relief that allows businesses to offset certain expenditure against taxable profits.
Many self-catering property owners believe they have claimed all their capital allowances and are totally unaware that ‘embedded fixtures’ in the fabric of their building (such as electrical systems, heating and ventilation, water pipework and more) also qualify for capital allowances tax relief.
This tax relief can be claimed on part of the original purchase price or construction cost of the building and can generate significant tax savings. You could also be entitled to reclaim tax paid in previous years as a cash rebate from HMRC.
It is estimated that 80% of owners have never claimed this tax relief and are unknowingly sitting on thousands of pounds in tax savings.
The reason many owners have not claimed is because quantity surveyors and capital allowances specialists are required to determine the qualifying expenditure. It is therefore not a service a general accountant can typically provide.
This is where Zeal can help.
With the change in rules approaching, now is the time to review your capital allowances and ensure you have not missed a claim.
Want to know more? Find further info here.
Why Zeal?
As trusted experts in the holiday let and self-catering industry, PASC UK have identified Zeal as the perfect partner to help members navigate the intricacies of capital allowances tax relief.
Zeal’s in-house team of Capital Allowances & Surveying experts specialise in helping self-catering property owners uncover the unclaimed savings hidden in their properties.
With their industry knowledge and expertise, we trust that they will guide you through the process of identifying and claiming what you’re entitled to, providing expert advice and support tailored to your specific needs.
We are excited about the benefits this partnership will bring to PASC UK members and look forward to helping you maximise your financial potential.
How it Works:
- PASC UK members are being offered a free initial consultation with Zeal to explore their eligibility to make a capital allowances claim.
- If you do, Zeal can provide you with a free proposal outlining an estimate of your potential tax savings and the next steps.
- PASC UK members receive an exclusive discounted rate on Zeal’s fee.
- As Zeal work on a paid-by-results basis with no upfront costs, there is no risk in having a conversation with their team.
What To Do Now:
It’s easy to arrange a chat with Zeal for a time and date that best suits you. PASC UK members can schedule a free 15-minute consultation with a representative from Zeal below.
Alternatively, you can contact the team at Zeal on 01633 742244 or [email protected].
JOIN PASC UK & ZEAL TAX FOR A FREE WEBINAR – TAX CHANGES FOR FURNISHED HOLIDAY LETS
Wednesday 9th October 2024 at 11:00am
PASC UK will be holding a joint Webinar with Zeal to answer your questions. We don’t know exactly what further concessions we may get from HM Treasury, however, the resounding advice from accountants is to look at your current Capital Allowances position with some urgency.
This Webinar will also be recorded and made available on the PASC UK website.
Please join us for this webinar covering everything you need to know about the changes to Furnished Holiday Let (FHL) tax legislation from April 2025, including . . .
- What are the tax changes for FHL owners?
- Key information you need to know about the changes
- Who will be impacted?
- Ways to mitigate the impact on your business
- Capital allowances – have you missed a claim?
- Business Rates & VAT FAQ’s
- And more!
Contact PASC UK on [email protected] for the registration link!
Zeal will also be sponsoring the upcoming PASC UK Agency Conference on October 16th.
Tax Director, Matt Jeffery, will be sharing the latest updates on Capital Allowances and other key tax implications of the FHL tax regime abolishment.
If you’re an PASC UK Agency attending the conference, chat to Matt about how Zeal can work with you to directly help your owners and members!