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We are Specialists in Reclaiming,[object Object],yourCapitalAllowances,[object Object]
Who are Portal Tax Claims?,[object Object],PartofthePortalGroupwhosemaindirectorshavebeen workingtogethercontinuouslysince1990.,[object Object],ThePortalGroupHQislocatedinRochester,Kent,    operatingfroma7,000sq.ft.freehold,purpose-built officewithover100PAYEemployees.,[object Object]
What Capital Allowances are not!,[object Object],Not Capital Gains Tax,[object Object],Not the same as your ‘Capital Account’,[object Object],Are not effected by the ‘Charging balance’ when it’s time to sell [CA’s are not added back into the CGT calculation],[object Object]
WhatexactlyisaCapitalAllowanceclaim?,[object Object]
CapitalAllowancesareretrospectiveclaimsbased ontheoriginalpurchaseprice.Itisnotacontentious taxavoidanceschemeorloopholebutisbasedon establishedUKstatutorylawdatingbackto1878.,[object Object]
HMRCstatesthat:,[object Object],Itisyourstatutoryrighttoclaim-since1878,[object Object],Everybuildinghasclaimableallowancesinherent withinthepurchaseprice,[object Object],Highlyvaluableformofnon-conflictingrelief, anestimated96%ofpropertyownersarepayingtoo muchtaxbynotclaiming.,[object Object]
You arenota“guineapig”as,[object Object],thousandsofcaseshavealready,[object Object],beensubmittedandpaidout.,[object Object]
Anestimated96%ofallUKcommercialproperty,[object Object],andfurnishedholidayletshaveNOTclaimed...,[object Object],...There  could be a cheque waiting for you!,[object Object]
CapitalAllowancesare overlooked?,[object Object]
BUTWHY?,[object Object]
Thisdoesn’thavetobeyou...,[object Object],THEREISCOMPLEXLEGISLATIONINVOLVED,[object Object],AlltaxadvisorscomeacrossCapitalAllowances,however:,[object Object],Thelegislationiscounter-intuitive……………. AND,[object Object],…………..Opportunitiesaremissedfartoooften,[object Object]
HMRCmakesclaimingdifficult because,[object Object],Shroudedincomplexlegislation,[object Object],Specialisttaxareanotcoveredbyaccountants,[object Object],Requiresmanyspecificskillsetstoidentify&claim,[object Object],Onceagain,only4%ofallUKcommercial buildingshavehadtheirentitlementclaimed,[object Object]
WHATSPECIFICALLYCANYOUCLAIMON?,[object Object],UKcommercialProperty,[object Object],FurnishedHolidayLettings,[object Object]
...youneedtoknowaboutFirstandSecondFix,[object Object],V,[object Object],FIRSTandSECONDFIXarewhatprecedesthecompletedproperty,[object Object],Youclaimon‘Plant&Machinery’fromtheSECONDFIXwhenyouclaim,[object Object],TherearesignificantdifferencesinFIRST&SECONDFIX,[object Object]
WhatisFIRSTFIX?,[object Object],Youcannotclaimonthese...,[object Object]
WhatisFIRSTFIX?FIRSTFIXcomprisesalltheworkrequiredtotakeabuildingfromthefoundationstotheapplicationofplasterontheinternalwalls.,[object Object],FIRSTFIXincludes:,[object Object],Walls,[object Object],Floors,[object Object],Ceilings,[object Object],Insertingcablesforelectricalsupply,[object Object],Insertingpipesforwatersupply,[object Object]
WhatisSECONDFIX?,[object Object],...butyouCANclaimonthese.,[object Object]
WhatisSECONDFIX?SECONDFIXcomprisesalltheworkafterplasteringtothefinishedbuilding,[object Object],SECONDFIXincludes:,[object Object],Connectingelectricalfixturestocables,[object Object],Connectingsinksandbathstopipes,[object Object],Fittingdoorsintodoorframes,[object Object],Lighting,[object Object],Installingcookersandwashers,[object Object],Flooring,[object Object],Crownmoulding,[object Object]
Where are the allowances hidden?,[object Object],We find CA’s in two places:,[object Object],Inherent: in the very fabric of the building,[object Object],Current: in your Accounts – we scrutinise the ‘Capital’ and ‘Revenue’ accounts,[object Object]
WhatcanYOUclaimon?,[object Object],THEPOSSIBILITIESAREENDLESS!,[object Object]
Examples: Commercial Property,[object Object],Offices,Hotels,MedicalCentres,Carehomes,PublicHouses, Retailoutlets,ShoppingCentres,Cafés,Restaurants, Servicestations,Estateagents,Banks,Dentists,Factories, Blocksofflatsetc.,[object Object],Basically,Commercialpropertyisrealestatewhichisintended foruseby‘forprofitbusinesses’.,[object Object]
ResidentialFlats,heldwithinacompany,[object Object]
FreeholdPub,[object Object]
HighStreetShop,[object Object]
NursingHome,[object Object]
OfficeBuilding,[object Object]
Hotel,[object Object]
FHL,[object Object],Holidayaccommodation(furnished)eitherintheUK,orintheEEA. Canbeavilla,flat,singularormultiplebedrooms.Anytypeof property.,[object Object],Ithastobeavailabletorentforaminimumof140daysperyear.,[object Object],Ithastobeactuallyrentedout,foraminimumof70daysperyear.,[object Object],Lossescanbesetagainstanyincome,aswellasCAs.,[object Object],*** HMRC Changes in April 2011,[object Object]
HolidayApartment,[object Object]
Holiday Villa,[object Object]
Capital Allowances - The Opportunity
AREYOUELIGIBLEFORARECLAIM?,[object Object],Tobeeligible,thefollowingcriteriaMUSTbemet:,[object Object],UKcommercialtaxpayer,[object Object],OwnUKcommercialpropertyorafurnishedholidaylet(FHL),[object Object],Purchaseprice:£200k+ [300k+ EEA area],[object Object],Cannotbeownedbyapension,charity,developer or Government,[object Object],YouMUSThavepaidUKtaxthepasttwoyears oraregoingtopaytaxinthefuture                   ,[object Object]
OURCURRENTOFFERINGS,[object Object],•UKCommercialProperty>£200K,[object Object],•FurnishedHolidayLets(FHL)withintheUK>£200K,[object Object],•FurnishedHolidayLets(FHL)withintheEEA>£300K(collectively),[object Object],•Multi-Let&HMOPortfolios>£1,000,000,[object Object]
IFYOUMEETTHISCRITERIA...,[object Object],THETAXMANPROBABLYOWESYOU,[object Object],THOUSANDSOF£££££££££££,[object Object],Thetaxmanwilltakeyourmoney.,[object Object],Don’tletthisbeyou!,[object Object]
YOUCANNOTLOSEIfwefailtofindyouatleast£25,000ofunclaimedCapitalAllowances, youwilloweusnothing ,[object Object],CapitalAllowancesareintendedto encourageyoutoinvestbutbecause theyaremisunderstood,theyarenot beingclaimed,[object Object],Claimscanberetrospective,[object Object],Thereisnotimelimitonhowfarback youcango,[object Object],DoingthisdoesnotaffectyourCapital GainsTaxpositionifyousellyourproperty,[object Object]
The process,[object Object],Only one claim per building in it’s lifetime,[object Object],We have to contact ALL owners back to 1996,[object Object],If we validate that no previous claim has been made,[object Object],We arrange a FREE survey by an Independent RICS surveyor,[object Object],Accountants prepare the report using HMRC matrices,[object Object]
The process…..,[object Object],We submit the report to your Accountant,[object Object],Your Accountant, promptly, submits the report on-line to HMRC,[object Object],If requesting a Tax refund – HMRC pay in 21 days,[object Object],TIMESCALE: 8 Weeks from instructions,[object Object]
Weareexperts,[object Object],WeuseanIndependentSurveyorwhoworkswithcomplex,[object Object],tablesandinternalHMRC-approvedmatricestocompilea,[object Object],detailed,accurate,compliant,non-confrontationaland,[object Object],robustreportinaformatapprovedbyHMRC.,[object Object],Theresultisthatourreportshavea100%sign-offrate,[object Object],withtheclient’saccountantsandHMRC.,[object Object]
ITBEARSREPEATING....,[object Object],YOUCANNOTPOSSIBLYLOSE,[object Object],Ifwefailtofindyouatleast£25,000ofunclaimedallowances,[object Object],-YouwilloweusNOTHING!,[object Object]
How do you get your money?,[object Object]
[object Object],TotalTaxsavingof£165,312over4years(59%),[object Object],*WDA=Annualwritingdownallowance,[object Object],[object Object]
 CA claim worked through until balance falls below £1000

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Capital Allowances - The Opportunity

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