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How do Embedded Capital Allowance Claims Work?

How do Embedded Capital Allowance Claims Work?

Embedded Capital Allowances are a deeply specialist area. Only experts will know exactly what a business can claim for and how much. Do not be surprised if your accountant has not made a claim on your behalf, the specialism of an accountant often doesn’t cover Capital Allowance claims.

How does the Embedded Capital Allowances claim process begin?

The first step is to arrange a free, no-obligation consultation online or in-person. We don’t do the hard sell; we just want to know as much as we can to help you as much as we can. The purpose of this meeting is to find out about you and your business, explain the process clearly, and answer any questions you have. We will also agree on the scope of the service, how it is charged for, and agree on terms.

Do you contact my accountant?

Yes, after the consultation we will contact your accountant to obtain your accounts for the last 2 years of trading. We will check that no claims have already been made and also ascertain certain “housekeeping” items such as how you pay tax and at what rate.

How do you work out what I can claim for?

We will send one of our team to your commercial property to undertake a full and detailed survey of what items are present in the property which might give rise to a claim. Our team are exhaustive in their approach and record everything which may be useful and admissible in justifiably increasing your claim. We are able to allocate costs to each item of expenditure using recognised costing breakdowns. The survey produces a technical report which is presented to our tax accountant.

How do you present the claim to HMRC?

All our claims are constructed in accordance with HMRC guidelines. Using the survey report our tax accountant will advise your accountant on how to amend your tax return. How long does the claim process take?

The process usually takes between 8 to 12 weeks from start to finish.

Will HMRC investigate the claim?

An Embedded Capital Allowance reclaim does not make use of a loophole. It is there to incentivise business owners like you to develop and improve their commercial properties. HMRC does investigate a small number of claims but that is not something to worry about and it will be dealt with on your behalf.

How do I get started?

Just contact us however you feel most comfortable, and we will be in touch to get the ball rolling.

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