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Frequently Asked Questions |
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Here is a selection of the most commonly asked questions. |
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The more commonly raised points have been detailed and answered below, however for any questions that are specific to your actual home, you are advised to contact one of our Care Home VAT Specialists direct on 01246 293011. |
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Who can make a claim? |
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We can make Capital Allowance claims for owners of commercial property in just about every business sector, particlaurly those have paid tax within the last 2 years. |
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Can individuals claim? |
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YES - We have carried out claims for individuals that charge a commercial rent for a property they own to a trading company such as care homes, office blocks, student apartment blocks, leisure parks, day nurseries, hotels and pubs etc. |
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What are the exceptions? |
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Properties where industrial building allowances (IBA's) have been claimed, property held in trust or offshore, pension funds, or properties held by Local Authorities or Charities.
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Time limits of ownership? |
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Where purchases of properties took place over 15 years ago it is often difficult to find records pertaining to the building purchase. We try to advise clients that a time bar of 15 years is used unless recent valuations have been obtained due to inherited properties.
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What is the minimum value of freehold to be considered?
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The related acquisition cost needs to exceed £300,000
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Can leasehold properties be included?
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YES - A claim can be made regarding a long lease over 25 years, or where significant tenent improvements have been made. (subject to lease).
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Why are we able to make claims above what those of your accountant can?
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Most clients have rarely claimed all the allowances available to them. We can make claims for item that you do not have itemised invoices for. We do this through specialist knowledge of items that can be claimed, following a comprehensive Capital Allowance site survey.
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Request a Call Back
Just give us your telephone number and a time to call you. |
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