There are 2 main reasons why people do not make use of the Capital Allowances embedded within their commercial property.
- They haven’t been told that they can claim
- They see the process as complicated and difficult.
With Rufus & George – Tax & Reclaims claiming Embedded Capital Allowances is a simple process and managed on your behalf.
The process begins with a short meeting with a member of the Rufus & George team. The goal of this meeting is to position what embedded capital allowances are, understand if a claim has been made before and talk you through how it all works.
We will seek your permission to make contact with your accountant and request information about the property. We will seek to work in partnership with your accountant.
Once we have established that a claim has not been made and that there will likely be grounds for one we send a surveyor out to look at your property. They will take as much time is required to ensure that nothing is missed. We do not target our surveyors on how many appointments they make it to in a day; they take the time they need.
Once the survey has been complicated a specialist accountant will write a report setting out the basis of the claim and send it to HMRC.
HMRC will generally pay 50% of a claim up front and check the report later. This is positive in one sense but negative in another. If they decide to dispute a claim at a later date, and the claim has been paid directly to you, you could be liable for any clawback.
To protect our clients we receive the claims into a segregated client account and then pay them to you. This ensures that the liability for the correct processing of the claims sits with us, no you. The process will usually take 8 weeks and we only charge a fee on success.
Mark Phillips is Director, Capital Allowances at Rufus & George – Tax & Reclaims with responsibility for Embedded Capital Allowances. After a successful career in the military, he started a new career in financial services. If you would like to arrange a no-obligation consultation with Mark, email email@example.com or call 07581 013017.