A recent client has identified £940,000 of qualifying expenditure, generating over £328,000 of tax savings.
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. £225K of allowances in a £500K property which translates as £90K in tax refund and/or reduction in future tax liability to a higher rate tax payer. So it’s an exercise well worth doing.
Claiming Embedded Capital Allowances is a risk-free exercise well worth considering when you own commercial property. You can estimate your total claim using our claims estimation tool or book a consultation with one of our claims specialists who can prepare an estimation on your behalf.
To find out more, check out some of our latest insights here.
Why HMA Tax?
BIRMINGHAM: A property developer acquired a serviced apartment complex located in Birmingham, and will receive £128,000 in tax relief.
A recent client came to us with a Hotel in Manchester, our initial impression was that there could be a substantial claim, and safe to say we were correct!
WHAT IS CLAIMABLE WITHIN A HOTEL
Whilst Embedded Capital Allowances are heavily ingrained within Hotel, some plant and machinery items generate significant allowances when identified, valued, and claimed correctly. These include:
FREQUENTLY ASKED QUESTIONS
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.
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 £750K
£295,500
Allowances Identified
Purchased for £656K
£263,000
Allowances Identified
Purchased for £4m
£1,367,000
Allowances Identified