What are embedded capital allowances, and how do they benefit me?
Embedded capital allowances are a form of tax relief for the hidden qualifying assets within commercial properties, such as lighting, heating systems, and plumbing. By claiming these allowances, you can reduce your taxable profits and reclaim overpaid tax.
Who qualifies for embedded capital allowances?
Owners of commercial properties or certain leaseholders may qualify, regardless of how long they’ve owned the property. Speak to Hypertech Partnership to confirm your eligibility.
Why hasn’t my accountant already claimed these allowances for me?
Most accountants focus on general tax compliance and may not have the technical expertise or resources to identify embedded assets. That’s where Hypertech Partnership steps in, working alongside your accountant to maximise your claim.
Am I eligible if I’ve owned my property for many years?
Yes! You can often claim for properties purchased several years ago. Hypertech Partnership can assess your circumstances to confirm eligibility.
How do I start the claims process with HyperTech Partnership?
Simply contact us to arrange an initial consultation. We’ll guide you through the process, starting with an eligibility assessment, and handle everything from survey to submission.
What happens during the survey?
Our qualified surveyors will visit your property to identify and document all qualifying embedded assets. You can assist by ensuring access and providing any relevant documentation.
How long does the survey and review process take?
The survey is usually completed within a day, with the review taking a few weeks. We aim to complete the entire process, including submission to HMRC, within 8-12 weeks.
When will I receive my tax relief or refund?
Once your claim is approved, tax relief or refunds are typically issued within 4-6 weeks.
Will claiming embedded capital allowances affect my property’s value?
No, claiming allowances does not reduce your property’s value or restrict its future use. It is a legitimate tax relief designed to benefit property owners.
Can I claim if I’m buying or selling a commercial property?
Yes, but timing is critical. Embedded capital allowances must be accounted for during the transaction process. Hypertech Partnership can assist to ensure neither party loses out.
What if I’ve renovated or made improvements to my property?
Renovations and additions can increase your entitlement to embedded capital allowances. Let us evaluate the impact of your upgrades to ensure you claim everything you’re entitled to.
Can I claim embedded capital allowances for leased properties?
Yes, leased properties may qualify if you are responsible for maintaining and owning certain embedded assets. We can review your lease agreement to determine eligibility.
Are residential properties eligible for embedded capital allowances?
No, residential properties are generally not eligible. However, mixed-use properties or serviced accommodation may qualify. Contact us to find out more.
What happens if HMRC questions my claim?
Hypertech Partnership prepares robust, evidence-backed claims. If HMRC raises any questions, we’ll handle the correspondence and ensure a smooth resolution.
Are there any hidden fees?
No, we operate on a transparent, success-based fee structure. You only pay if we successfully secure your tax relief.
How is HyperTech Partnership different from other firms?
We specialise in embedded capital allowances, combining deep industry expertise, bespoke service, and a proven track record. Unlike others, we work closely with your accountant to maximise your claim.
Do I need to inform my accountant before working with HyperTech Partnership?
Yes, we encourage collaboration with your accountant to ensure a seamless process. Our services are designed to complement their work.
Can I claim embedded capital allowances for multiple properties?
Absolutely. If you own multiple commercial properties, we can help you claim allowances for each one.
What if my property is located outside the UK?
In some cases, embedded capital allowances can be claimed for overseas properties. Speak to us to discuss the specifics of your case.
How often should I re-evaluate my property for capital allowances?
A review is recommended whenever significant changes are made, such as renovations, property acquisitions, or changes in ownership.
