Could you have hidden tax relief in your business property that you don’t know about?
According to Jason Batty of Eureka Capital Allowances many property owners are unaware that they are sitting on assets that could entitle them to hundreds, thousand or even ten thousand pounds worth of future savings and cash rebates that their accountants are unable to claim.
Every month Eureka identifies millions in unclaimed relief which has been overlooked.
This is because they are experts at uncovering ‘embedded fixtures’ that only qualified surveyors and capital allowances experts are able to identify.
According to Eureka, one of the UK Tax legislation’s biggest secrets is that property owners are entitled to claim tax relief on items essential to the running of their business. These items are known as fixtures, and which are often there when you bought the property but can also include work carried out since.
Eureka’s team are experts in identifying these fixtures in many different property types including hotels, holiday parks, self-catering properties, doctors, dentists, nursing homes, retail and more.
But what are capital allowances?
A capital allowance is an expenditure that you can claim against your taxable profit. This can be anything that you purchased for use in your business such as a computer or machine.
Some essential items that were in the property when you bought it are fixtures against which you can claim capital allowances, and this can also apply to fixtures added since purchase.
To find out if you have been missing out on hidden funds then you can have a free no obligation chat. https://www.eureka-moment.co.uk/