What We Do
Assessing your potential claim
Claiming for property embedded fixtures and fittings (PEFFs) is a specialist area and requires an assessment of your ongoing business or personal tax position, depending on who owns the property, and whether the claim is within the period allowed by HMRC of typically two years* from the purchase date.. It is also contingent on whether a claim has previously been made for the property. If a property was acquired before April 2014 there is no time bar on a claim being made.
To make a claim you must provide us with full details of the tax and property history. Depending on the circumstances, we will request what is required.
A Surveyor must visit and confirm what qualifies in your property. The valuations from the the survey report are part of the evidence necessary when making a claim.
Manage the entire process for you
Our team at CA Advisory Services undertakes the entire process for you by reviewing your current and ongoing tax position, working with your Accountant confirming the ownership of the property and the purchase transaction date, working with your Solicitor checking for any previous claim that may have been associated with the property sending in our Surveyor team to assess the claim value gathering the evidence and preparing the claim justification calculating the annual reduction, as defined by HMRC.
We then prepare the report and submit the claim to HMRC**, generating for you or your business a significant Personal or Corporation Tax reduction benefit.
CA Advisory Service Ltd can also offer CPD training to our Accountant partners on Capital Allowances for PEFFs.
*If a property was acquired before April 2014, there is no time restriction on a claim being made.
**Submission can be made by the Client’s own Accountant if preferred