Access the knowledge you need faster with the UK’s first and only Capital Allowances search.


Why this report?

  • 96% of commercial properties eligible

  • Eligible for tax benefits of up to 20% of the property purchase price


Capital Allowances are essentially the tax equivalent of depreciation, and undertaking specific checks on commercial properties can identify if your clients are eligible for tax benefits of up to 20% of the property purchase price. This could save tens to hundreds of thousands of pounds for your client. As a generalisation, most commercial properties or multiple occupancy buy-to-let residential properties are eligible for the tax benefit.

Our report doesn’t require the solicitors or the clients to hold specialist tax knowledge and comes complete with a certificate highlighting the potential for Capital Allowances. Should your client’s property be eligible for this tax relief, our partners PlanVal have specialists on hand to provide support to guide you through the process.

An overview of Capital Allowances

Capital Allowances are calculated differently to other types of depreciation and are not automatically applied to Company Accounts, meaning they need to be identified, assessed and claimed manually. According to research undertaken by the HMRC, 96% of commercial properties are eligible to claim Capital Allowances. Making a claim will not affect your Capital Gains tax, nor will it affect the value of the property.

It’s important to note that only tax payers are eligible for this; Local Authorities, Pension funds and Charities are all excluded. This presents opportunities as Capital Allowances can be transferred from one property owner to another, so something to bear in mind if you are exempted and selling a property, or if you are purchasing a property formerly owned by an exempted organisation.

There may be certain criteria that need to be met. For example second homes and holiday lets that are eligible need to fulfil a quota of let days per annum.

Why not recommend a Capital Allowances search for your client; it’s the smart, simple way to be certain.

 


 *Reliance and Terms: As per PlanVal terms and conditions. Delivery times are normal working days.

How do I order a report?

If you already have a Groundsure account you will need to log in using your user name and password and select the product(s) you require. If you do not have a Groundsure account, one must be set up, even for single pay as you go orders. This can be done using the create an account function.

What does 'Order in Progress' mean?

Order in progress is a status we assign when your report or data is being produced. You will receive your product within the defined turnaround time. If you order states “with Groundsure”, this is because you have submitted your order with a site plan and we are working on digitising your site boundary, or because the site drawn exceeds our standard pricing options. Orders will be placed within 24 hours, and a member of the team will be in contact if we require further information. If you order states “On Hold”, this is because one of our environmental consultants has raised a query with your order. This query will have been emailed to you.

How do I download a report?

All reports will be delivered by email to the designated email address. If necessary, you are also able to include an additional email address before placing your order. However, if the file is too big for email, a download link will be emailed to you. Alternatively, you can download any report from your Order History.

How do I cancel a report?

Cancelling an order ‘in progress’ can be dealt with via your Groundsure account. If the order you wish to cancel is already complete, please contact us and the team will advise you on our cancellation policy.