With a purchase price of £3m we identified £746,233 of unclaimed Allowances.
Tax refunds and relief for hotel owners
Our service helps owners of Hotels identify unclaimed capital allowances and receive tax refunds. Our service is guaranteed to be fully HMRC compliant to get you the maximum tax refund.
If you own a hotel property and pay tax in the UK then you could be missing out on thousands of pounds of tax allowances. Embedded Capital Allowances are applicable to a host of fixtures and fittings embedded within a building when it is purchased and/or added after purchase.
Items within the hotel such as lifts, radiators, air conditioning, bathrooms, commercial kitchens, security systems and fire alarms are claimable. These represent just a few examples of items that are frequently part of a building when its purchased and included in an overall price paid.
Typically we would expect to find around 40% of the original purchase value of the property in previously unidentified Capital Allowances. £125K of allowances in a £500K property which translates as £50K in tax refund and/or reduction in future tax liability to a higher rate tax payer. So it’s an exercise well worth doing.
Why HMA Tax?
WON'T MY ACCOUNTANT HAVE ALREADY DONE THIS?
Probably not. It’s a highly specialised area of tax statute and requires very specific knowledge of this area as well as a specialist team that includes a chartered surveyor and a chartered tax specialist.
We partner with hundreds of Accountants & Solicitors across the UK to help their clients receive the maximum tax relief available. If we don’t already work directly with your accountant, we’d like to, so please ask them about our service.
FREQUENTLY ASKED QUESTIONS
No, Capital Allowance claims do not effect the value of your property and don’t make any change to your Capital Gains position.
No, we submit all our claims to HMRC for approval and the refund comes from them. Our reports are very detailed and ensure HMRC have all the information they need when processing your claim.
Absolutely not. We look at claims for you on a results only basis, which means that if we do not find allowances that have been approved by HMRC, then we charge you nothing and any initial costs are covered by us. Our fee is completely linked to a successful outcome, so there is nothing to lose by investigating a potential claim.
Purchased for £800,000, Allowances identified of £184,000