Eureka Tax Capital Allowances
Are you sitting on a tax goldmine? Find out how to unlock hidden tax relief in your Hospitality property!
One of UK Tax legislation's biggest secrets is that property owners are entitled to claim tax relief on essential items to running a business, known as ‘Embedded Fixtures’, that were already in their property when they bought it.
Although capital allowances are often accounted for by accounting teams - very few understand the depth to which claims can be made. The team at our specialist partners, Eureka Capital Allowances, have been working extensively with Hospitality operators across the UK unlocking thousands of pounds in additional tax rebates as well as ongoing future tax savings.
What is an Embedded Fixture?
Embedded Fixtures make up between 20-40% of the purchase price of a property and can often results in tens of thousands of pounds of additional tax relief for owners.
Typical Embedded Fixtures can include Heating Systems, Lighting, Ventilation Systems, Fire Alarms, Ironmongery, Carpets, Fixed Furniture, Swimming Pools, Kitchens, Bathroom & Restroom Suites, Underground Piping, Cabling and much, much more.
UK Tax Legalisation allows owners to claim tax relief on these items even if they were ‘fixed’ to your property before you bought it. In some cases, you can claim relief even if the original fixtures have been repaired or replaced!
How Much Could I Save?
On average, Eureka unlock around £55,000 in tax relief per property and have a 100% success rate in agreeing their findings with HMRC.
Essential to unlocking this hidden tax relief are a team of surveyors and capital allowances experts who have helped Eureka become the first-choice Capital Allowances consultancy to the Hospitality industry, saving owners thousands of pounds nationwide.
They work on a percentage basis - agreed with you in advance of them processing your claim. There is no up-front cost and their fees are only payable when your claim has successfully completed.
As you would expect, we have arranged a preferred Amenity Warehouse deal. Their service includes...
Free capital allowances review with no up-front costs
Full management of your claim including providing site surveyor audits where required
Confirmation of your allowances and rebate with HMRC
Working with you and/or your accountant to maximise your claim
They can walk you through the process and in a quick call and can indicate what level of tax savings could be realised against your property.
Do I Qualify For This Offer?
We want to make sure this service is available to as many Hospitality operators as we can, but there are some qualifying conditions for this service to be cost effective as follows:
You must be UK business and have :
1. Purchased a property for £200k or more before April 2014
2. Spent £100k or more on refurbishment/development of your property during the last 10 years
We are working on additional tax allowance solutions for alternative sites. If you do not meet the criteria above, please subscribe to be the first to hear on any service updates.