Right Surveyors Property Management Property Capital Allowances
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Right Surveyors Capital Allowances
About Capital Allowances Case Study About Us

About Capital Allowances

For no obligations advice on whether your property could qualify, contact James Hume on

0800 880 6824 | office@rightpropertymanagement.co.uk


What are Property Capital Allowances?

Put simply, when you buy, lease or improve a commercial property, HMRC allows you to use some of that expenditure to reduce tax. Whilst some of the more obvious claims are often made, much of the specialist aspects, like plant and machinery, are ignored. Our expert Capital Allowances planning, the combination of accounting and surveying expertise, enables our clients to obtain a tax benefit that could exceed 10% of the property purchase price - often five or six figure sums.

Property Capital Allowances | The Process

We provide professional services and as such ultimately we require an instruction for an agreed fee. Prior to this however, we are happy to offer a Free High Level Review

Our process in summary is as follows:

  • Preliminary fact find
  • Tax savings projected and fee quoted
  • Instruction to proceed
  • Report preparation
  • HMRC submission

Preliminary fact find

We require some basic information in order to carry out our free high level review:

  • Client tax rate
  • Property address
  • Purchase price
  • Purchase date
  • Type of property
  • Subsequent expenditure
  • Description of business

Any further information that can be supplied at this stage will increase the quality and accuracy of this review.

Tax savings projection

  • Approximate Tax savings are projected based on known information in the Preliminary Fact Find
  • Our bespoke fee is quoted; if you require our Fee Match Guarantee then we will also require this information
  • We calculate how the tax savings will be achieved by tax year
  • Assumptions we have made are clearly shown
  • We won't take on cases that don't create an immediate net benefit against our fees. However, do note that Capital Allowances are designed to be long term tax savings. They aren't generally a get rich quick scheme (except where first year allowances are involved).

Instruction to proceed

In order to instruct us formally, we require the following:

  • Full fact find. We will require a fully filled out application form together with supporting documentation. Terms and Conditions will need to be signed along with our instruction.
  • Survey fee deposit paid. Unlike many of our competitors, we do charge a survey fee on instruction. This is to cover the cost of our surveyor on your instruction. It also means our percentage fee can be significantly more competitive.
  • Percentage fee agreed, which will be based on the net amount of additional Capital Allowances we actually identify.

We are happy to offer alternative fee structures to suit our clients. We have experience in dealing with many fee structures historically, and feel we can be creative and innovative.

Capital Allowances Client Report preparation

The following steps are followed in preparing the Capital Allowances client report:

  • Survey is instructed and carried out
  • P&M (plant and machinery) analysis and valuation carried out
  • Land valuation undertaken (required for the Section 562 apportionment)
  • Claim history analysed, this typically involves Land Registry enquiries, correspondence with previous owners and/or their professional advisors, liaison with client's current advisors Accounts analysis, with client's current accountants
  • Claim Report collated and issued to client. Invoice prepared

HMRC submission

The mechanism for the tax saving is via the client's normal tax return, usually carried out by the client's accountant. The initial HMRC refund follows where the open tax year's return has been amended. Subsequent/future tax offsetting is carried out in future tax years' tax returns. The tax saving is typically therefore of a long term nature, except when the Annual Investment Allowance is utilised.

We can claim capital allowances on properties of all sizes, even large office blocks

 

 

 

commercial property - capital allowances

 

 

 

commercial capital allowances

 

 

 

retail properties - capital allowances

The only thing you pay during the process is the survey fee. Until we know whether you can successfully claim, we don't charge you a penny for our services - our invoice is a percentage of what we save you, so we make money when you do!


A bit about us...

Our Capital Allowances team is a business-to-business partnership between two, respected and established companies:

Endeavour Tax Partners Ltd

Under the Directorship of Managing Director James Hume, Endeavour handle the taxation and accounting aspects of the Capital Allowance process.

James has a diverse CV covering almost ten years as a management consultant within one of the Big 4 Accountancy practices, working as director of Equities at a major Swiss Investment Bank and leading the development of over 50 residential units for a UK company.

Since 2010, he has been advising clients on Property Capital Allowances and has saved clients millions of pounds in current and future tax liabilities. He holds an MA in Economics from Cambridge University.

Right Surveyors Asset Management Ltd

Led by Ian Dony, the Right Surveyors provide the surveying aspects of the business - calculating the value of plant and machinery which can form the subject of a claim.

The Right Surveyors cover all of England and Wales, incorporating over 20 individual local surveying practices and specialist teams for ECO work, Corporate Party Wall and Corporate Property Management.

Ian Dony holds a degree in building surveying, a post graduate diploma in building conservation and Membership with the Royal Institution of Chartered Surveyors. With a background in Estate Management and Corporate Building Surveying, Ian is well placed to advise on Capital Allowance matters.


Ian Dony MRICS - Chartered Surveyor

Mr Ian Dony BSc DipBldgCons FCABE MRICS
James Hume - Capital Allowance Specialist

Mr James Hume BA (hons) MA

Contact Details:

Freephone: 0800 880 6824
Email: office@rightpropertymanagement.co.uk
Website: www.RightCapitalAllowances.co.uk

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