If you are a landlord who has purchased a HMO or holiday let in the UK in the last five years, then you could be able to claim up to 50K back in capital allowances. You maybe thinking ‘surely my accountant has this covered?!’. Well not necessarily, accountants generally don’t like to get involved with pursuing this form of tax refund, mainly due to the fact that it can be time consuming. Capital allowances can come in two forms, a percentage of the purchase price and a percentage of the initial refurbishment costs.
It is a good idea to employ an expert in this field, Tara at Railton-Meeks can put you in touch with a company who specialises in this field, and will work along side your accountant.
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