Capital Allowances Tax Reclaim Service

Service – Many doctors fail to claim tax reliefs to which they are entitled when incurring expenditure on their practice premises. The benefit can be considerable – typically 30% of the cost of a new surgery building can be offset against tax. There is no time bar on past claims even from ten years ago.

Benefits – principle features:

  • A FREE initial review to establish whether there are any unused tax reliefs to be claimed;
  • Performance based fees on viable cases (no win no fee);
  • Pre-planning tax reliefs improves the viability of proposed building works (new build or refurbishment);
  • 100% tax reliefs are also available on energy saving equipment.

Provider – Davis Langdon LLP who are the UK’s largest property tax consultancy and often work in collaboration with many major accountancy firms.

Discount – 10% discount against usual fee structure.

Action – for further information call Davis Langdon on 02380 682800 quoting ‘GP Care’ or email David Rees at david.rees@davislangdon.com.

Additional information - When a GP Practice incurs expenditure on a healthcare building whether for new construction or refurbishment, there will be an opportunity to consider the availability of Capital Allowance tax reliefs.

These are primarily for the fixed Plant and Machinery content of the building – heating, cooling, lifts, kitchens, WCs and an extensive range of fitting out items.
 
The value of tax relief savings can be considerable, typically for a new GP surgery up to around 30% of build cost may be offset against tax – which to a 40% taxpayer means a 12% budget saving over time.
 
The UK’s Capital Allowances system has undergone considerable change in 2008 which has extended the range of the existing allowances and placed emphasis on Enhanced Capital Allowances (“ECA”) which offer 100% tax relief for low carbon / energy saving equipment.
 
The introduction of the new Energy Performance Certificate (“EPC”) in 2008 is also a new area to consider, particularly when refurbishing a building. A considered approach will achieve the best EPC rating, take advantage of available reliefs and help reduce energy use.
 
Early consideration of the Capital Allowance tax reliefs at the design stage will help ensure that a project is tax-friendly.
 
When seeking funding in a new era of tighter money, factoring potential bottom line tax savings into financial projections may beneficially enhance the appeal of proposals to lenders.
 
GP Care, in association with Davis Langdon, provide initial reviews of potential tax relief claims at no cost and can offer a combined service of Capital Allowances and EPC advice.