Michael Brownsdon MRICS ATT
33 Margaret Street, London W1G 0JD
Tel: 020 7409 9952
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Savills market leading Capital Allowances Consultancy delivers a high quality service to clients investing in and occupying hotels and restaurants throughout the UK.
What are Capital Allowances?
Most UK businesses pay tax on trading profits and have significant interests in commercial property. Capital allowances are the only means of providing tax relief upon capital expenditure incurred by both UK and overseas taxpayers on commercial property. They act as an incentive to invest and save money for these businesses by offsetting tax on profits which would otherwise be due. Capital allowances therefore reduce the amount of tax all profitable UK companies, businesses and individuals have to pay.
Businesses who fail to plan their capital allowances recovery strategy incorrectly overpay tax on a regular basis, whilst those who fully recognise their importance and manage the process accordingly reduce their tax liabilities. This helps reduce net property costs and in some cases, makes marginal schemes viable.
How we can help you
Capital Allowances on hotel and restaurant expenditure are rarely maximised. This is due to shifting tax legislation and the requirement for specialist valuation procedures. The complexity of modern buildings contributes too. We have developed a fully disclosed valuation methodology that meets the specific requirements of HMRC.
Our proven multi–disciplinary approach utilises a combination of specialist skills combined with a well-established dialogue with HMRC built on years of submitting claims, negotiating and agreeing values.
With national coverage our specialist Capital Allowances Consultancy team are able to provide a high quality service to clients investing in and occupying new commercial freehold or leasehold property as well as advising clients either acquiring or disposing of second-hand hotels and restaurants.
We also advise on the construction of new developments, alteration and refurbishment projects as well as fit-out works.
Savills dedicated and multi-disciplinary consultancy team offers the three main skill sets that are essential to provide a comprehensive capital allowances consultancy service:
- Tax and Accountancy
assessing the extensive case law, ever - changing and complex tax legislation and wider tax issues to establish what qualifies and on what technical entitlement basis.
- Quantity Surveying
Understanding both construction costs and the building process to accurately asses both the value and quantum of qualifying assets.
- Property Valuation
Providing accurate and thoroughly researched land values; an essential and often disputed area of the overall capital allowances valuation process.
This approach enables us to maximise client capital allowances recovery levels and agree our valuations with HMRC as efficiently as possible.
Savills Capital Allowances Consultancy is one of the largest, market leading teams of capital allowances specialists, covering all regions of the UK and Ireland.
We are a dedicated, multidisciplinary team of qualified tax advisors, chartered quantity surveyors, tax-qualified chartered surveyors, legal and property experts.
Savills renowned real estate expertise and over 100 years combined experience in this highly specialised field ensures that our clients’ allowances are truly maximised.
Savills proven multi-disciplinary approach utilises a combination of specialist skills combined with a well established dialogue with HM Revenue & Customs to ensure that our clients position is always truly maximised.