Capital Allowances Zeal can shine a light onunclaimed tax savingsin your business property
The best kept secret in property tax
What are Capital Allowances?
Capital allowances are a form of tax relief that allows qualifying capital expenditure to be offset against taxable profits. Whilst many businesses and commercial property owners have heard of capital allowances, most simply assume “my accountant already claims capital allowances for me”. . . This is not typically true!
Whilst accountants are able to claim some capital allowances, it’s usually restricted to items like furniture and equipment that are purchased and have a receipt.
What around 80% of owners and investors don’t realise is that capital allowances extend to the ’embedded’ fixtures in their commercial property!
This extra level of capital allowances can be claimed on part of the costs you incurred to purchase, build, convert or refurbish your property. As a complex area of UK tax legislation, a combination of quantity surveying expertise and specialist capital allowances knowledge is required to identify and claim qualifying expenditure. It is therefore not a tax relief an accountant can typically claim.
Capital Allowances on ’embedded’ fixtures
Capital allowances can be claimed on the embedded fixtures and fittings that were already in the fabric of the property at the time of purchase. Essentially, these are items that would not fall out if the building was turned upsidedown.
On average, Zeal identify between 20%-30% of the original costs incurred to purchase, construct or refurbish a property in qualifying expenditure. This generates thousands of pounds in tax savings which can be used to mitigate future HMRC payments for years to come. In most cases, owners also receive a cash rebate from HMRC for tax they have unknowingly overpaid.
Claiming Capital Allowances with Zeal
Free capital allowances review & no-obligation proposal
It costs nothing to find out if you are missing out on tax savings. Our team will ask you a few questions to confirm you meet the qualifying criteria, and provide a no-obligation proposal outlining an estimate of your entitlement, our cost, credentials and methodology – all for free.
Qualified & experienced experts
There are many firms who claim to be capital allowances ‘specialists’ yet don’t actually consist of any qualified tax advisors! Zeal on the other hand are CIOT (Chartered Institute of Taxation) accredited. Our technical team consists of Chartered Tax Advisors and RICS Quantity Surveyors who have specialised in capital allowances and other property tax related matters for over two decades. You’re in safe hands with Zeal!
A complete capital allowances service (and aftercare!)
Unlike many other firms who just prepare a Valuation Report (CAVR), Zeal are unique in our ability to provide a full capital allowances service. Our in-house specialists do all the tax calculations (including amending relevant tax returns), submit the claim to HMRC, deal with any queries in the unlikely event they arise AND provide professional aftercare at no extra cost to offer clients and their accountant any support needed to apply future tax savings.
Risk free, fully compliant guarantee
Not only is our process is fully compliant with tax legislation, Zeal have developed a blueprint methodology that has been pre-agreed with HMRC and the Valuations Office Agency to ensure claims are agreed quickly and easily. Plus, as Zeal operate on a success fee basis with NO fixed or upfront fees, you only pay a fee if your claim is successful! Our fee is based on a percentage of the allowances we find and agree with HMRC. We also offer a free survey to identify and value all qualifying items. Some other firms charge £1,000+ for the survey alone.
Rated ‘Excellent’ with 100% success
We’re really good at what we do, and we’re not just saying that! Zeal have a great track record. Our ‘Excellent’ rating on Trustpilot is testament to this. Plus, 100% of our submitted claims to date have been approved by HMRC – resulting in very happy clients!
Accountants are our friends!
Many of our clients have close relationships with their accountants or other trusted advisers. We are not accountants and aren’t here to step on any toes! Much like a GP would work with a medical specialist such as a cardiologist (if they suspected their patient had a heart condition), accountants and tax specialists often also work together to get the best outcome for their clients. We’re used to working collaboratively with clients’ advisors.
Our 5 step process is quick and simple!
We do all the hard work for you and usually complete claims in as little as 4 weeks!
We have claimed back millions of pounds in overpaid tax for businesses and property investors all over the UK. Our clients have received significant cash repayments from HMRC and created a pool of future tax savings that will reduce their tax bills for years to come.
Discover more about Claim Process
Property purchases. If you purchased your property for more than £100,000, and pay tax in the UK, you may be entitled to a tax rebate from HMRC. There is no time limit to make a claim as long as you still own the property or sold it in the last two years.
Construction projects. If you built a new commercial building or added an extension to existing building, our team can assess the value of the qualifying elements of your project.
Renovation projects. We can review historic and current refurbishment projects for missed claims for capital allowances or revenue deductions. Our specialists often increase existing claims by 25 percent or more.
Other consultancy. We provide the full range of capital allowances consultancy services. By applying our specialist expertise, we maximise our clients’ claim and make sure no tax relief is missed. Our team can help with:
– Capital allowances advice on buying and selling property.
– Structuring property transactions to achieve a tax efficient solution.
– Enhanced capital allowances consultancy.
– Contaminated and derelict land relief claims.
– Annual Investment Allowances (AIA), Structures & Buildings Allowances (SBA)
and the Super Deduction.
– Dealing with HMRC enquires.
Identifying the value of embedded capital allowances for the purchase, refurbishment and construction of a business property is a complex area of tax legislation. So much so, it is often misunderstood or overlooked by generalist accountants.
Claiming capital allowances on embedded fixtures purchased with land & buildings goes beyond the skills of accountants. This is due to the need for surveyors and expert tax knowledge. As property tax and surveying specialists we can identify all qualifying expenditure by conducting a technical survey on your building. Our experts delve deep into your property investments to uncover every item that qualifies for tax relief.
We have helped businesses of all different types and sizes, from all over the UK, recover £millions in tax savings from HMRC. Most of our clients did not even realise they were eligible for tax savings before we helped them.
Of course, not every property acquisition or renovation project is eligible for tax relief. Our team can carry out all the necessary enquires, at our own cost, to determine if a property would qualify.
You may also be interested in . . .
Zeal’s guide to capital allowances
to find everything you need to know!
Case Studies
Check out our case studies to read some of our success stories.
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Unlock thousands of pounds in future tax savings
Your accountant will not have claimed without using a specialist like ourselves
Capital Allowances Tax Relief for. . .
Looking for advice for your client?
Zeal partner with other professionals!
Some areas of our business are complex. We explain those complexities on our frequently asked questions page. We even try to explain unavoidable industry jargon. Our regular blogs also provide context to help explain the fundamentals of our work.
If you still can’t find what you’re looking for, please feel free to get in touch. We’d love to hear from you. We’re always happy to chat about your business to help you think differently about tax savings.
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