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latest news, updates
& advice from Zeal |
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Newsletter Issue 9
September 2022 |
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With many of our clients operating in the hospitality sector, school half term and annual leave traditionally results in August being a quiet month for Zeal. However, we still managed to assist 29 different clients to identify claims for capital allowances, unlocking a whopping £4.7m in unclaimed tax relief. This will result in cash tax savings for our clients of at least £940,000! Below is a summary of two interesting cases we worked on:
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Capital Allowances Review – Purchase of an Assisted
Living Care Business |
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One of our largest clients acquired shares in a company who run an assisted living care business. The company owned 11 properties that provided 24-hour care for adults with learning difficulties associated with Autism.
Zeal carried out a capital allowances review of the properties owned by the company to identify any missed claims for tax relief. In total, the company had incurred approximately £3.6m to acquire the properties between 2009 and 2021. Zeal established that all of the properties . . . Read more |
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| Capital Allowances Review - Private Schools |
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Zeal was introduced to a private education provider in the South West by their accountants. The company was incorporated in 2018 by teachers with a vision to move away from a typical educational approach and introduce a real-world working environment. Over the past few years, the company has invested in acquiring and refurbishing buildings for use as schools.
No tax relief had been claimed on the property additions since the business started. The company had tax losses until 2021 and were due to pay corporation tax for the first time. This meant now was the perfect time to review the expenditure . . . Read more |
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The last month has been a busy month for the R&D team with multiple submissions including:
- New client: Software company developing virtual learning environments.
- New client: Manufacturing company developing an organic and natural range of SPF products for sensitive skin.
- New client: Software company developing a futureproof platform to process changing data.
- Existing client: Manufacturing company developing organic and natural beauty products.
- Existing client: Manufacturing company developing flooring products.
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| Coming up this month, the Enquiry Team have a call with HMRC to resolve an existing enquiry on a claim that was prepared elsewhere. Whilst HMRC have taken on more people to aid with compliance queries, a lot of these have only been working in HMRCs R&D team for less than 2 years, and with a finite pool of experienced . . . Read more |
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As TFPI specialists, we focus on tax fee protection schemes for our clients - who are all accountancy practices. In short, we look at the whole TFPI market, analyse the client’s scheme and see where we can improve cover and reduce costs. We charge a set fee for doing the work, which to date has always been covered by the better results we have achieved for clients.
We sometimes get the response from potential clients that “we don’t need your services and will do it ourselves” . . . but let us analyse that. |
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| TFPI Consultancy - Is it worth it? |
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When Zeal does a TFPI review for a client, we first check the market, regardless of which insurer they are currently with (if they have an existing scheme). It is a 20 page, industrywide review, that provides detailed evaluation on the performance of the four main TFPI providers in the market, as well as three smaller competitors, and commentary / observations on the commercial insurer market that sometimes provide TFPI type cover.
This report is updated routinely every month in order to ensure the latest activity, services and client feedback is provided. It gives unbiased commentary and blunt observations on . . . Read more |
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| New Partnership Announcement |
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| Zeal are proud to announce our new partnership with Care England! |
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As the leading representative body for small, medium and large care providers in England, Care England is a registered charity working to benefit the sector. The organisation is the largest and most diverse advocate for independent providers of adult social care in England who service older people and those with long term conditions, learning disabilities or mental health problems.
Care England speaks with a single, unified voice for both members and the whole care sector, providing practical advice on the successful day to day running of care services and providing real cost savings for its members. Their aim is to create an environment in which care providers can continue to deliver and develop the high-quality care that communities require and deserve.
Zeal are working with Care England to help members of all sizes, from single nursing homes to national care providers, take advantage of a specialist Government tax relief available on the ‘embedded fixtures’ in and under their properties.
If you have clients who own a care or nursing home arrange a chat with one of our team here. |
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Zeal are thrilled to announce that we have been shortlisted in the for Business Services Business of the Year in the 2022 South Wales Business Awards and recognised for providing outstanding customer service to our clients. This has always been a number one priority for us – our team are people focused and passionate about saving businesses tax. We hope Zeal will be triumphant at the awards which will be held on Friday 30th September and wish good luck to all the other nominees!
This month, Zeal also co-hosted a seminar with The Cardiff & District Law Society (CDLS) for the latest property update where Director, Matt Jeffery, provided insight on Capital Allowances for CDLS members. If you'd like to view the recorded presentation, please get in touch.
Coming up in October, our team are excited to be exhibiting at The Swansea Welsh Business Show and The Care Show, Birmingham, alongside our new partners, Care England. Team Zeal are also looking forward to attending The FinTech Awards Wales (following its' postponement from September), as proud sponsors of the ‘Team of the Year’ category.
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Speak with one of our tax specialists Now!
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Our experts help businesses across the UK tackle challenging tax
issues. If you find yourself in a position of needing specialist tax advice
we're on hand to help. Let us know when would be a good time for
a chat, and we will call you back.
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As a member of the Chartered Institute of Taxation, and with our own in-house tax specialists, Zeal are ideally placed to support you in providing a complete tax service to your clients. We deliver our services all over the UK, no matter the size of your practice or clients.
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