PASC UK Members
Are there unclaimed
tax savings in your
self-catering property?
PASC UK Members . . .
. . . you could be entitled to claim a specialist UK tax relief on a part of the cost you spent to buy, build or refurbish your property. This is for ’embedded fixtures’ found in and under your building including electrical and heating systems, water pipework and much more.
If you meet the Government qualifying criteria, a capital allowances claim on these fixtures could unlock substantial tax savings for you. In most cases, we find 20%-30% of the cost incurred as qualifying for tax relief.
On average this amounts to £25,000 in tax savings per property! You could also be entitled to reclaim tax paid in previous years as a cash rebate from HMRC.
Many self-catering property owners believe they have claimed all their capital allowances and are totally unaware of this extra level of tax relief available to them. Zeal want to ensure all holiday property owners take advantage of this tax relief, before it’s too late.
With the change in rules approaching, now is the time to review your capital allowances and ensure you have not missed a claim.
As the legislation for this tax relief is extremely complex, uncovering the full value of qualifying expenditure requires specific tax knowledge coupled with surveying and valuation skills. That’s why this tax relief isn’t commonly claimed by accountants, unless they use a specialist like Zeal.
It is estimated that 80% of owners have never claimed this tax relief and are unknowingly sitting on thousands of pounds in tax savings.
Even if your accountant is certain this claim has been made on your property, it is very likely our team will be able to identify missed qualifying expenditure and enhance your claim. You could still be missing out on thousands of pounds!
Claiming this tax relief could:
+ Reduce or even completely eliminate your next tax bill.
+ Generate a cash repayment for any tax you have unknowingly overpaid.
+ Unlock thousands of pounds in tax savings to mitigate future HMRC payments.
You could be due an average of £25,000 in tax relief!
For an instant estimate of your tax savings, use our calculator below.
You likely meet the Government criteria to qualify for a tax relief claim if:
> You’re an individual, partnership or company who own a short term let property.
> Your property is available to let for more than 210 days a year, is actually let for more than 105 days per year and is not let for more than 31 consecutive days to the same person.
> You pay £1,500+ in tax in the UK. This can be a combined total between all partners and includes PAYE, personal/corporation tax, pension payments or tax on dividends.
> The property was purchased, built or refurbished for £100,000+ and is located in the UK or EU.
Simply put, if you were able to pick up your building and turn it upside down, the ’embedded fixtures’ are the items that would not fall out.
Fixtures that qualify for tax relief can include electrical, heating and ventilation systems, water pipework and drainage, kitchens and bathrooms, carpets, flooring, alarms and much more.
Our team typically identify 20%-30% of the price paid to purchase, refurbish or build the property in unclaimed allowances.
Zeal are experts in Holiday Let taxation, specialising in helping owners unlock thousands of pounds in unclaimed tax savings which they had no idea they were missing out on.
Zeal and PASC UK are delighted to be working together to help ensure all self-catering property owners take advantage of the tax relief available to them, before it’s too late.
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, and ensure you get the full benefit of what’s available to you before the FHL tax rules change. This could mean significant financial advantages for your self-catering business.
Reclaim thousands in tax relief from HMRC!
We can help you reduce or even eliminate your next tax bill and unlock thousands in future tax savings. Many of our clients also receive a cash tax rebate from HMRC.
Our in-house specialists do all the work for you!
We lead the way from the first discussion, through the whole process until you
receive your tax savings from HMRC. We need very little of your time, or your accountants, and complete claims in a few weeks.Â
There’s no cost to uncover how much you're entitled to!
We offer a risk-free service with no upfront fees and carry out a building survey to uncover every qualifying fixture, all at no cost to you. You only pay our fee if your claim is successful.Â
Watch our short explainer video - it sums everything up perfectly!
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