We are pleased to announce that we are partnering with HMA Tax a firm of award-winning capital allowance specialists.
As the owners of a Holiday Let or Airbnb property, you may miss out on significant amounts of tax relief due to Capital Allowances that have not been identified, valued, or claimed.
Their team will thoroughly review your property to identify qualifying fixtures and fittings: items such as kitchen, toilet and bathroom fittings, boilers and radiators, security and fire systems, lighting and flooring, and certain external features where fitted like hot tubs and swimming pools.
Typically, they find around 25% of the original purchase value of a holiday let property in unclaimed allowances, offering a significant refund and reduction in future tax liability.
This service requires specialized technical knowledge, so they collaborate with hundreds of accountancy practices across the UK to assist their clients.
Here is an example of a couple of recent claims:
Furnished Holiday Let purchased for £730,000.
Capital Allowances identified and claimed £204,400
Total tax relief benefit for higher rate taxpaying owner £81,760
Airbnb let purchased for £380,000.
Improvement expenditure on property £43,000
Capital Allowances identified and claimed £116,500
Total tax relief benefit for limited company owner £26,795
Claiming Embedded Capital Allowances is a straightforward and risk-free exercise that is well worth considering. With over 7,500 completed reviews submitted to HMRC and a 100% claims success rate, let them help you secure the maximum amount of tax relief you are entitled to for your property.
To find out more, please contact us or email hello@northeastescapes.co.uk
