At this difficult time, we appreciate that all of our clients are having to cope with different rules and restrictions depending on which one of the four nations they live in. However, as we move collectively towards the traditional tax deadlines, we just want to take the time to remind you that we’re here if you need us and that we are still offering a full service, where restrictions allow.
As we look hopefully to the easing of the restrictions for Christmas, we know from speaking with you, you are concerned about the long-term financial impact of restricted trading, so we would like to take this opportunity to reassure you that we are still in a position to help businesses.
We have provisions in place to ensure that we meet with Covid guidelines, especially in relation to surveys. And where we cannot get to your property, we have prepared guidance that will allow you to gather the information we need to substantiate your capital allowances valuation. In addition, we have over the last two years been pioneering an automated survey system and we shall in the coming weeks be investigating whether this can be adapted for use in self surveys.
Many of you have been in touch already and we’re really pleased to have secured welcomed tax savings for you!
Here are just a few examples of Clients we have helped during lockdown:
- A gym owner in Central Scotland – who had fitted out their gym received a tax saving from over £45,000 of capital allowances in addition to what their accountant was able to identify from their invoices.
- A property investor in Yorkshire – we reviewed their capital expenditure in the financial year to find them a tax saving from over £700,000 of capital allowances. A property investor in the West Midlands – who had purchased and refurbished a shopping centre received a tax saving from over £1,250,000 of expenditure that qualified for capital allowances
- A holiday let operator from the West of Scotland who investing in a new build Furnished Holiday Let received a tax saving from over £75,000 of capital allowances from expenditure incurred.
How Can We Help You?
We understand that you may have numerous questions running through your mind regarding your cash flow at the moment. We have helped our clients overcome these questions by helping them find tax relief inherent with their property capital expenditure.