We recently had a client who owned an office suite in a prime location, which gave us the initial impression that this could be a substantial claim. Typically, within offices around 35% of the original purchase price of the property can be identified as allowable, and for our client whose property was worth £4,800,000, we had an idea of the level of allowances that would be found.
Upon surveying the property, we managed to identify items such as air conditioning, kitchen and toilet fittings heating systems, security systems, radiators and more that could all qualify for tax refunds. These items are essential within every office block, and it is important for the owner to realise when they have been overpaying tax on items such as these.
As expected, the allowances identified came to a high figure of £672,560, resulting in a tax refund of £134,530 directly to the office owner. Our client was surprised at just how high the figure was, and confirmed the importance of undergoing a capital allowance claim for the benefit of the individual and the company.
One of the initial factors that compelled our client to employ us to investigate potential allowances was the fact that we only charge a fee once we have identified allowances, which meant that there were no upfront fees and initial costs were covered by us. What’s more, we have a 100% success rate with having claims accepted by HMRC and a positive track record of identifying allowances for our clients. This was a risk free exercise that produced fantastic results for our client, and we can continue to find these kind of results for other clients with similar properties.