Embedded Capital Allowances Explained

If your clients are commercial property owners and pay tax in the UK, then they could have the potential to claim tax relief in the form of Embedded Capital Allowances on their property. Your clients may be unaware that their property could be holding thousands of pounds of unclaimed tax relief based upon allowances on items such as air conditioning, kitchen and toilet fittings.

Whilst we understand that you as the accountant will be picking up on expenditure that can be claimed when you see the invoices, many items may be mislabeled or hidden, and you would need a specialist team to identify these allowances, such as the one we have here at Headley Meredith Associates, which includes a chartered surveyor, chartered tax advisor and a quantity surveyor.

In a typical month we will complete reports on properties valued between £250,000 and £10m, with a 100% success rate with HM Revenue & Customs for tax refunds.

In a recent law survey, over 60% of commercial property owners stated that they relied on their accountant to maximise their legitimate tax claims. By working with HMA, you can provide this valuable service to your clients without having to employ your own team of specialists that would be necessary to offer this service.

I can, without hesitation, recommend the services of Headley Meredith Associates. They have provided me with a first class service and I have found them to be extremely thorough, informative and proactive throughout.

Carl HallFinancial Accounting Services Limited

The Claim Process

INITIAL FACT FIND

Here we identify the property details and start our enquiries with you to ensure that it qualifies for a claim. If you can ensure that your client responds to our queries quickly then this would greatly speed up the process. Our requests are never demanding, but relate to information only they are likely to hold. We will be looking at the type of property, when it was purchased and your clients’ tax rate.

CHARTERED SURVEYOR

We will then arrange for a member of our team who will be a qualified Chartered Surveyor to survey your clients’ property. Our surveyors have a great deal of experience in identifying and submitting Embedded Capital Allowance claims within commercial properties, and we can assure you that our surveyors will assess the property in a manner of upmost professionalism.

CHARTERED TAX SPECIALIST

Once our surveyor has completed their report our tax specialist will assess and quantify the level of allowances your clients’ property will qualify for. The specialist will prepare a detailed report for approval by yourself and additionally in a format acceptable to HM Revenue & Customs.

HMRC REFUND

We will work with you to help prepare your clients’ tax return to ensure the correct information is submitted. This then results in a refund of overpaid tax. This return also provides a template for future claims and tax returns.

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