Historical Expenditure Review
Is a Historical Expenditure Review right for me?
No stone is left unturned in our Historical Expenditure review. All property transactions and land and buildings expenditure across your personal or business history will be reviewed in detail to identify any areas where you overpaid tax or missed tax relief opportunities as a result of under-claiming Capital Allowances.
We will thoroughly assess all of your capital expenditure across your portfolio with the goal of finding you every possible saving from Capital Allowances.
The Historical Expenditure review is ideal for you if you meet any of the following criteria:
Your property portfolio has grown aggressively, or you’ve grown through acquisition of other portfolios.
You’re an accountant providing services to new property clients.
Your property is incidental to your trading business or you’re an occasional landlord and aren’t sure if you received the right advice at the time of acquisition.
You’re not sure if Capital Allowances were properly considered when you purchased or constructed your property.
What does a Historical Expenditure Review include?
Reviewing historical fixed asset additions ledgers.
Comparing additions to tax treatment in tax computations and returns.
Reviewing sale and purchase agreements and any other available documentation for historical property transactions.
Conducting due diligence across public records and proprietary databases.
Identifying any scope for claiming additional Capital Allowances.
Inspecting properties where there is scope to make additional claims in order to identify qualifying assets.
Valuing additional allowances.
Preparing detailed, reconciled and fully disclosable Capital Allowances reports for submission to HMRC.
Liaising with your existing tax advisor or accountant for HMRC submissions.
Where necessary, responding to and addressing queries raised by HMRC or VOA after submission and engaging in negotiations on your behalf to reach a final agreement.
What does a Historical Expenditure Review cost?
Our Historical Expenditure Reviews are conducted on a no-savings, no-fee basis - meaning that if we’re unable to find any tax savings for you, you pay us nothing and can be confident that your portfolio has been thoroughly reviewed. If we do identify savings, our fees will be a percentage of the additional tax savings found.