This guest house in Whitby was purchased for £422k in 2012. The original purchase contract listed “fixtures” valued at £15k. However when we came to undertake our detailed capital allowances survey and analysis of the property we discovered a further £110k in unclaimed capital allowances. The owners, who are 40% tax payers, will benefit from tax savings over time of circa £44k.
This hotel, on the edge of the Cotswolds, was purchased for £1.295m. After extensive research it was identified there had been no previous capital allowances claims on the property. Therefore under the legislation, that was relevant at the time, the owners were free to make an unrestricted claim. The claim produced capital allowances of £336k which meant a tax saving over time of circa £135k as the owners were both 40% income tax payers.
One owner was so impressed with the results he is now helping us to promote our capital allowances claims services in the Whitby area.