Assisted Living Facility in Lichfield
An assisted living facility was purchased for £2m in 2021. Our team conducted a comprehensive review of the property and discovered £700,000 in unclaimed Capital Allowances.
Capital Allowance claim for an Assisted Living Facility in Lichfield.
In 2021, the owner of an assisted living facility in Lichfield sought HMA Tax’s expertise to uncover potential tax benefits within their property. Acquired for £2 million, the facility played a central role in providing an exceptional and supportive environment for senior residents.
Given the nature of assisted living facilities, we considered the specific considerations outlined in s198/199 of the Capital Allowances Act 2001 to maximise benefits for the facility owner.
Our Approach
Recognising the unique assets associated with senior care, our tax advisors conducted an exhaustive review of the property’s capital expenditures.
The analysis unveiled £700,000 in unclaimed allowances, 35% of the purchase price. These allowances covered vital fixtures for resident comfort, advanced healthcare equipment, and other qualifying assets. Collaborating with the facility’s management and accountants, we ensured a smooth integration of these allowances into their financial strategy.
Thanks to HMA Tax’s expertise, the assisted living facility owner successfully claimed £700,000 in unclaimed Capital Allowances. This amounted to a substantial tax saving of £140,000, providing a significant financial boost for the facility. The savings will be directed towards improving resident amenities, expanding services, and ensuring the highest standard of care.