Many FHL and SA owners are unaware there is an extra level of capital allowances that can be claimed on embedded ‘fixtures’ in the fabric of their property, like heating and electrical systems, kitchens, bathrooms and more.

This tax relief can be claimed on part of the original costs spent to purchase or construct their short-term let (no matter how long ago that was), and can generate significant tax savings for owners. Capital allowances can also be claimed on costs incurred to refurbish or convert the property for use as a short-term let.

As this is not a tax relief an accountant can typically claim, it’s estimated that 80% of qualifying owners have not made a claim and are unknowingly sitting on thousands of pounds in tax savings. Many could also be due a cash rebate from HMRC for overpaid tax.

Zeal’s Chartered Tax team of capital allowances specialists and quantity surveyors have the required expertise to help your owners identify any missed capital allowances claims. By introducing your owners to us, you can ensure they benefit from valuable tax relief available to them, and earn generous referral fees in the process.

As long as a claim is made before the April 2025 deadline, any tax benefit secured can continue to be used even after the rules change, AND can also be offset against tax due on ANY income from residential or commercial properties, not just FHLs!