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Author Archives: Duncan Chittick

Author: Duncan Chittick

Sales Director

Winners – New Business of the Year

HMA Tax are very pleased to have won the coveted New Business award at the Black Country Chamber of Commerce Awards 2017. This award recognises the excellent service we provide to our clients and the exceptional growth we have achieved whilst helping businesses and individuals identify over £60m in allowances. We are extremely grateful for this award and are delighted to add this to our shelf.

The competition in this category was very strong and we are proud that our customer service record and remarkable 100% approval rate with HMRC was recognised by the judges.

Tom Meredith, Managing Director, commented:

“We have an excellent team here at HMA Tax and I am proud that together we are able to offer such an incredibly valuable service to owners of commercial property across the UK. To come out on top of what was a very competitive category is very flattering”.

HMA Tax help owners of Commercial Property identified previously unclaimed capital allowances and receive tax refunds.

The Process of Claiming Embedded Capital Allowances

Claiming Embedded Capital Allowances is simple, straightforward and stress-free. Our expert team work hard to ensure that you receive the tax relief you are entitled to in a way that requires very little input from our clients.

Many commercial property owners have the potential to claim Embedded Capital Allowances on their property, however some may be put off by the idea of the claiming process. Claiming is easy and straightforward, because our specialists do the difficult bit for you.

We only need an hour of your time to gather information and talk you through the process, then we do the rest. In order to start your claim, we’ll need to talk to your Accountant and get some information from the past few years and we’ll request a copy of the information land registry holds for the property. Again, this doesn’t take long and only relates to information that is needed for a sucessful claim. Once we have identified whether you have a claim, we’ll send out one of our friendly surveyors to look around your property and identify unclaimed items which qualify for tax relief. Based upon the findings from our surveyor, a specialist Tax Accountant will complete a detailed report for approval by HMRC in order to quantify the level of allowances your property will qualify for.

On average, it takes only 8 weeks from our initial meeting to you receiving your relief from HMRC. This relief often adds up to tens of thousands of pounds, a positive impact on any businesses’ cash flow. If you’re wondering whether this is all worthwhile, take our client David from Arctic Spas. When we first met David, he was sceptical about whether he’d have the time to make a Capital Allowance claim. We were able to identify over £127,000 of allowances in his commercial property!

If you have an hour to spare, get in touch to arrange a meeting with one of our specialists who can begin the straightforward process of identifying your unclaimed tax refunds.

How Landlords Can Avoid Missing out on Tax Relief

If you’re a landlord, you’ll likely be aware of the benefits of a commercial to residential conversion, and may be considering this option for your property. If this is the case, action must be taken in order to avoid missing out on substantial tax relief in the form of Capital Allowances.

These allowances are available to owners of commercial property, which is why a claim must be made before the property becomes residential. In recent years, many landlords are beginning to take advantage of the government’s decision to make permitted development rights for office-to-residential conversions permanent. Whilst landlords are in the process of making this conversion, there is still time to get in touch with Capital Allowance specialists to investigate whether allowances can be claimed within the property whilst it is still classed as commercial.

Capital Allowances are based upon items that are considered part of the property which are eligible for tax relief. These items would include security systems, heating systems, toilet facilities and more. The amount that can be claimed would typically be around 30% of the original purchase price for office  buildings. Specialists are required to make a claim because they will already have a qualified team of chartered surveyors and tax advisors, as well as a detailed knowledge of the HMRC guidelines.

Allan Mannion, Business Development Director at Capital Allowance specialists Headley Meredith Associates explains:

“One of the strangest aspects of this subject is that whilst the commercial property a business or individual owns is quite likely to be their highest expense, they are rarely aware of the opportunity for tax relief that comes with it.

In the case of commercial property, you need a specialist team to determine the qualifying items embedded in the property, an understanding of how to use complex HMRC formula and an understanding of the complex tax rules. All of those skills can be applied by a Capital Allowance expert.”

Claims need to be made before or at the point of sale, and before work begins on the property. Once the property becomes residential, all allowances will be lost and there will no longer be a chance to make a claim. The Government have tightened their rules on Capital Allowances, which makes it vital for commercial property owners to employ Capital Allowance specialists to provide all the necessary legal advice and process claims on their behalf. Specialists can survey the property and prepare a report within 5 weeks, which greatly speeds up the rate at which the landlord can receive the allowances.

Owner of Arctic Spas Makes Substantial Tax Claim

There was a lot to celebrate at the Arctic Spas headquarters recently as owner David Martin was able to claim back thousands of pounds in tax relief on his Arctic Spas showroom.

These tax refunds are also known as Capital Allowances, which are a form of tax relief available to UK tax paying commercial property owners, such as David. These allowances were claimed on items that were considered part of the building, including air conditioning, heating systems, toilet facilities, kitchen fittings and more.

Much to the Kidderminster based owner’s surprise, he received a substantial amount of tax refunds:

“I couldn’t believe that my accountant didn’t do this, and when I found out, I was able to claim back a substantial amount of tax benefits. It turned out that all I needed was a specialist team to identify certain embedded items.”

Similarly to David, many commercial property owners believe that their accountant will deal with Capital Allowance claims, however this is often not the case because accountants typically do not have the specialist team in place that are required to identify allowances, which is why commercial property owners need to employ Capital Allowance specialists to process these claims for them.

Allan Mannion, Business Development Director at Capital Allowance specialists Headley Meredith Associates explains:

“One of the strangest aspects of this subject is that whilst the commercial property a business or individual owns is quite likely to be their highest single expense, they are rarely aware of the opportunity for tax relief that comes with it.

In the case of commercial property, you need a specialist team to determine the qualifying items embedded in the property, an understanding of how to use complex HMRC formula and an understanding of the complex tax rules. All of those skills can be applied by an Embedded Capital Allowance expert.”

Many more commercial property owners can claim for tax allowances, just as David did. David and his team are certainly reaping the rewards!

ENDS

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Dentist Surgery Owners Entitled to Substantial Tax Relief

Dentists are becoming increasingly aware of their right to claim Embedded Capital Allowances on their properties and the sizeable tax refunds such claims can return. Dentists across the UK are receiving unexpected tax refunds from HMRC for items they haven’t yet claimed for.

It’s a common misconception that a dentist’s accountant will have claimed these allowances already as the process actually requires a report authored by a chartered surveyor and a specialist chartered tax advisor.

The type of items that have often gone unclaimed include air conditioning, surgery equipment, specialised lighting, heating systems, toilet facilities and more. These are items often embedded in the surgery, forming part of its overall value when purchased or when refurbishments are carried out. A specialist team is required to establish which items have not been claimed for and their value.

A typical claim would be around 25% of the original purchase value of the property, which represents £125k of allowances in a £500k property. Claims with reputable specialists are always on a contingency basis and you should never be charged upfront or for an unsuccessful claim.

Tom Meredith, Managing Director at Capital Allowance specialists Headley Meredith Associates explains:

“Dentists are often unaware of the potential their surgery holds for tax relief, since many believe their accountant will have claimed the relief. This is why we work closely with accountants across the UK to ensure the maximum tax relief available is claimed for property owners.

It is always worth finding out whether you’re entitled to allowances, because in many cases, commercial property owners discover that they have been sitting on thousands of pounds in tax relief, and are only charged a small fee once allowances are identified.”

ENDS

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Professional Dentistry London

As Capital Allowance specialists, we look forward to meeting as many commercial property owners as possible, which is why we always take the opportunity to attend exhibitions. So when the chance to attend the Professional Dentistry exhibition arose again, we knew this would be the perfect chance to introduce our services to the many dental professionals who could benefit from a Capital Allowance claim.

After the success of the Professional Dentistry exhibition in Glasgow last year, we knew that the same exhibition in London will prove to be just as interesting, allowing us to meet dental professionals within the city whose practice could be holding thousands of pounds in allowances. One of the key benefits of these exhibitions is the ability to thoroughly explain our services in person, and show dental practice owners how and why they can claim these allowances. In the past, many dental surgery owners have been surprised at just how much tax relief they are entitled to, which is why it is so important for professionals to identify a potential claim, especially since there is no risk to finding out since we only charge a fee once allowances have been successfully identified and accepted by HMRC.

Our specialist (and friendly) team will be there on Friday and Saturday at stand 472 to answer any Capital Allowance related questions, whether you’re in the process of making a claim, are considering making a claim or are simply interested in our services, please do not hesitate to approach us and we will endeavour to answer any questions you may have. We look forward to seeing you there!

Care Home Owners Claim Capital Allowances!

There were smiles all round at a Bricklehampton based care home recently as the owner had received thousands of pounds in tax refunds, also known as Embedded Capital Allowances.

The care home owner was able to claim these tax refunds on items that are considered part of the property, such as air conditioning, heating systems, boilers, kitchen and toilet fittings, security systems and more. These items were all considered eligible for tax relief, and the owner discovered that they had been overpaying a great deal of tax on these items.

Capital allowance specialists were employed to make a claim for this property owner, which is often the case with these types of tax claims as specialists are required to survey the property to see whether it qualifies for a claim.

Many commercial property owners have not heard of the concept of Embedded Capital Allowances because they often think their accountant will have made a claim for them, however accountants don’t usually specialise in these kind of claims, which is why capital allowance specialists can make a claim on the owner’s behalf.

Allan Mannion, Business Development Director at capital allowance specialists, Headley Meredith Associates, explains:

“One of the strangest aspects of this subject is that whilst the commercial property a business or individual owns is quite likely to be their highest single expense, they are rarely aware of the opportunity for tax relief that comes with it.

In the case of commercial property, you need a specialised team to determine the qualifying items embedded in the property, an understanding of how to use the complex HMRC formula and an understanding of the complex tax rules. All of those skills can be applied by Embedded Capital Allowance experts.”

These tax refunds can be found in many other types of commercial properties, including hotels, veterinary and dentist surgeries, restaurants, retail stores, industrial warehouses and more.

Marketing Assistant – Graphic Design

Are you a graduate with an extensive knowledge of marketing and graphic design?

We’re looking for an enthusiastic and creative individual with previous experience in a marketing and/or graphic design role to join our friendly team and assist our Marketing Director.

The successful candidate will use their knowledge of graphic design to contribute and assist with various marketing materials including marketing campaigns, the design and structure of our website, brochures, various promotional activities and more.

We are looking for someone with a good understanding of InDesign and Photoshop, with a creative eye for design and the ability to use these tools to market our services to specific individuals. We are looking for someone who can design visually appealing material to assist with our written content.

If you like the idea of a creative and challenging role in a fast-paced environment, then this could be the job for you.

 

Requirements of the role:

  • Candidate must be a graduate or have relevant experience
  • Proficient with Adobe InDesign and Adobe Photoshop
  • Previous experience in a marketing and/or graphic design role.
  • Excellent computer skills
  • Excellent organisational skills
  • HTML and CSS knowledge preferred
  • Has the ability to work under pressure

The Company:

Headley Meredith Associates provides specialist tax claims to companies, partnerships and individual clients. We excel in Embedded Capital Allowances claims for those with commercial properties and Research and Development claims for those developing their products and processes. We are a rapidly expanding business and are looking to grow our Marketing team.

 

If you wish to be considered for the role of Marketing Assistant, please forward your CV to careers@hmatax.co.uk

Great Results for Office Owner

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.

Great Success for Dentist Surgery Owner

Over the years, standards in dental practices have significantly improved, which can often result in the potential for high Embedded Capital Allowance claims for surgery owners. With the use of highly specialised equipment, owners have the potential to claim allowances on these items, which we found recently with a client who was able to claim a significant amount of allowances on items within the surgery they practiced from.

Much to our clients’ surprise, we were able to identify a wealth of allowances within the surgery that was originally worth £104,880. Items such as air conditioning, specialist lighting, sinks and plumbing in each room, specialist equipment, security systems, emergency lighting, wiring and more all qualified for capital allowances. These items are considered part of the surgery and can be costly to run, which is why it was important for the owner to claim the tax refunds they were entitled to and see these refunds as their right, not a privilege.

After an initial free consultation with our business development experts, we arranged for a surveyor to assess the property upon which they identified these items that qualified for tax relief. Much to the delight of our client, we identified £34.5k of allowances which resulted in a cash refund of £6,976 to the surgery owner.

These refunds provided fantastic benefits for the property owner, and have the potential to increase the value of the property, so if the owner comes to selling the property, they can look back upon this exercise and see it as a very worthwhile activity that provided present and future benefits, and at no risk to the individual.