As an authorised supplier of the National Care Association, HMA Tax have completed a number of care home Embedded Capital Allowance claims, which have identified significant tax relief to those who own and operate care and the aged care homes within the UK.
In recent weeks, we have seen increased interest in completing claims for the property owners, and there are two key questions we are regularly asked:
- How do your claims work?; and
- What benefit are they to me?
Whilst you can read about the intricacies of how we complete care home Embedded Capital Allowance claims here, earlier this month, one of our clients saw the benefit of our service first hand.
A care home owner, who purchased the property in early 2013 approached one of our tax specialists, after some due diligence and a brief consultation, we determined that the £1.8m property would be entitled to claim a considerable amount of allowances.
Our expert surveyors identified items such as air conditioning, kitchen and toilet fittings, heating systems, security systems and radiators, all of which could qualify for tax relief.
Own a carehome?
Claim 35% of the original purchase value in previously unclaimed capital allowances
As expected, the allowances identified came to an impressive £681,000, resulting in tax relief of £274,500 directly to the property owner.
Our client was initially surprised at just how high the figure was, and for them, it confirmed the importance of undergoing a Capital Allowance claim to receive this unclaimed tax relief.
It’s important to note that our claims are a risk-free exercise that produce fantastic results for our clients.
HMA Tax holds a positive track record for consistently providing our clients with the best possible service, this is also reflected through our 100% success rate from HMRC means.
To find out how much you could receive, visit our care homes page and estimate your claim.
If you own a commercial property and would like to find out more about how your business could improve its tax situation, please call Andy Milnes, Senior Claims Specialist on 01384 904090 or email andy@hma.tax for more information.
HMA Tax is a partner of the National Care Association, this is a testament to our service across the care sector and the benefit we can produce for owners and operators.
