Yes you did hear me correctly, up to 30% of your eligible properties cost refunded by HMRC.

A little known and specialist Tax Allowance called Embedded Capital Allowance can be claimed either as a tax refund or to reduce your tax bill.

So what is an Embedded Capital Allowance and why is it different to the Capital Allowance my accountant claimed?

Embedded Capital Allowances are excluded items from a capital allowances claim and are items that might be considered to be part of the building for example toilets, baths, sinks air conditioning, fire panels, fire doors, kitchens, boilers, electrical appliances.

Can you make a claim?

You/your business is eligible to claim if you can answer yes to all the following questions

  • You are the owner of a freehold/leasehold commercial property.
  • The property is being used for commercial use such as factory, office, shop, Holiday Let, Serviced Accomodation,  Hotels, Some HMO’s
  • You are a UK tax payer

According to HMRC 90% of eligible properties have not claimed this valuable allowance. Changes to this allowance mean it is now time limited.  New rules apply for purchases post 2014 where a two year time limit applies to claim or lose out. For properties owned pre 2012 there is no time restriction.

To claim you will need a specialist surveyor, solicitor and accountant to work together to submit a claim to HMRC.

All sounds a bit complicated I hear you say.

Property Investor Reward ClubAt Property Investor Reward club we believe in making life easy for our members so have partnered with an expert company for this specialist tax refund who will work with your accountant, will offer members preferential rates plus cash back and charges no fees up front.

PIRC is an exclusive membership club for property traders, investors and landlords which gives you immediate access to discounts from all the suppliers you need in your property business.

Benefit from EXCLUSIVE rates on everything from building materials to solicitors’ fees. You also earn cash back and rewards with every purchase at PIRC-Card.co.uk.

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