Care and nursing homes are just one of many UK businesses which often have unclaimed capital allowances, according to West Sussex-based chartered accountants and tax advisers, Carpenter Box LLP. As a result, many care home operators could be owed hundreds or even thousands of pounds by the tax man.
Owners of care and nursing homes could be entitled to claim tax relief for the cost of their fixtures and fittings; kitchen and bathroom fittings, extensions, central heating, solar panelling and lifts are all areas where this can apply.
But time is running out for care home operators to claim this tax relief. Under the 2012 Finance Bill, this valuable relief will be lost forever to those who have not made the necessary claims before selling the property after April 2014.
Carpenter Box are experts in identifying tax savings. As Alan Edwards, Head of Health Care Sector Team explains: “At Carpenter Box we have a complete understanding of the tax system which allows us to maximise the tax relief for your individual circumstances. You could enjoy a tax refund, a reduction in your future liability, or both.”
And clients of Carpenter Box are certainly happy with the results as the firm has been able to identify over £1m of expenditure that qualified for Capital Allowance tax relief in the last two years.
“Investigating your claim can really be worthwhile. We can review your purchase contract to establish your entitlement to claim and we can also survey the property to identify the relevant fixtures and determine their value,” added Alan.
Many care homes are simply not aware of what they could be claiming for and Carpenter Box is, therefore, happy to undertake a free initial consultation and assess whether or not they can make a claim. In addition, any fees charged are contingent on a successful claim being made so there is no risk to clients in pursuing a potential claim.
For further information please contact Carpenter Box on 01903 234094 or e-mail firstname.lastname@example.org.