Commercial Property Purchases

We offer commercial property enquiries advice and S198 election services

There are countless numbers of people who miss out on claiming capital allowances simply because they do not know that they are eligible to claim anything.

This is because, in many cases, the value of the allowances on a property acquisition will need to be calculated. To make the calculation you need to be able to identify what it would cost to rebuild the property and what the underlying land value is. Once you have done that the process requires you to separate the eligible plant and machinery from the non-qualifying building and land, in accordance with the current regulations. Typically, this is not something your accountant can do; therefore you will need input from a capital allowances specialist.

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Eriks Industrial Serivices Limited

Capital Expenditure Projects

We are a highly experienced passionate and dedicated team. We adapt quickly to changing project timelines and specifications. We aim to work closely with our clients and their project teams, acting as an extension of the team to ensure continuity between us, the project and finance teams. As a result of this approach, we not only maximise claims but regularly build strong long-term relationships with our clients that lead to repeat business; with many clients recommending our services. We have a faultless record and relationship with HMRC and rarely have any queries due to the clarity and familiarity of our report layouts.

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Provided no other person has already made a claim for the Plant and machinery items in a property, the new owner can claim them. There are other tests to meet such as the expenditure must be capital and the purchaser must be carrying on a qualifying activity to be able to claim, but these are usually very easy to determine.

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In cases where capital allowances have not been claimed by any past owner, the amount available will be based on a ‘just and reasonable apportionment’ of the purchase price paid, in accordance with CAA 2001, Section 562 – (The purchase price to be apportioned can include any Stamp Duty Land Tax paid by the purchaser and any irrecoverable VAT). The apportionment must be made between three categories – the non-qualifying building or setting, the qualifying plant and machinery and the non-qualifying land value. The apportionment is subject to restrictions if any historic claims have been made by former owners on items that are still in the building when it is sold.

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Capital Expenditure Projects

For capital expenditure projects: We believe that all projects benefit from having senior personnel working on them from start to finish. We have an impeccable track record of maximising Capital Allowances for clients on all capex projects, be it, construction, fit-out or refurbishment. for Commercial property purchases: Purchasing property that was previously owned, and capital allowances were not fully claimed by a previous owner, may give rise to unclaimed allowances being "inherited" or transferred.

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Commercial Property Property Purchases

Not all property investors realise that capital allowances can be claimed on purchased property. Consequently, many purchasers do not even think about capital allowances at all. We will work with you and your solicitor to ensure you maximise the benefit whether you are buying or selling.

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Furnished Holiday Lets

We have helped many clients save money on both purchasing and refurbishing Furnished Holiday Lettings (FHLs). We analyse all the costs in detail and work with you, your accountant and solicitors to maximise the return for you.

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Research and Development

If your company and the project you are working on meeting the relevant criteria, it is possible for you to claim tax relief on the revenue expenditure (the running costs of your business) and some capitalised revenue expenditure you have incurred in each accounting period.

Research and Development

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Whether you are property owners, investors or occupiers, let us know how we can help.

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Read our FAQ's to get the answers you need right now.

What are capital allowances?

Capital allowances are the only means of providing tax relief for capital expenditure incurred by both UK and overseas taxpayers on commercial property. They act as an incentive to invest by saving money for these businesses. They do this by offsetting tax on profits which would otherwise be due by the number of allowances claimed. Capital allowances, therefore, reduce taxable profits for companies, businesses and individuals.

What is the real benefit?

The benefit is simple – we can help reduce your tax liability and therefore you pay a lot less tax. The ‘hidden’ benefit is the peace of mind in knowing that your claim is being prepared by an expert who will produce a detailed report on an open book basis in a technically robust fashion so that you do not have to worry about this part of your tax computation.

How much will it cost me?

Our fees are based on the level of allowances identified and will always be less than the first year tax benefit. If we can’t or won’t save any tax we will not charge you a fee.

Why do they exist?

They act as an incentive for businesses to keep investing in property and other business assets. Capital allowances provide tax relief for capital expenditure on items of plant and machinery. Depreciation of fixed assets is not-allowable and not deducted from taxable profits, so another tax relief is available on this expenditure. Capital allowances were brought in to give relief against tax and help keep the economy healthy.

The services provided were great and we achieved a fantastic result on both our capital allowances and research and development claims. Their advice and insight has been really helpful on our recent projects. We would be more than happy to recommend them.

David Foulis

FD, Honest Burgers

We engaged Wandsworth to complete a comprehensive review of our Capital Allowances position. A process that can be resource and time intensive for businesses internally, was handled with experience, expertise and skill. Wandsworth were able to assist us to maximise our potential tax relief with their specialist knowledge in this area. Throughout the process the communication was excellent and the team were a pleasure to work with.

Julia Gosling

Kerry Food Group

Wandsworth are standout advisors in this specialist area. Their advice greatly benefits our clients and further enhances our comprehensive range of services for building owners redeveloping their properties.

Sean Cleaver

Corep

The team at Wandsworth have repeatedly helped us to compile our R&D submissions. They have built an in-depth understanding of our organisation, expertly deploying their specialism, working directly with colleagues across our business, to ensure compliance with the latest legislation.