Cardiff, UK - How To Make The Most of Your Commercial Property – Consultants Hayven Property Tax Explains All

Do you own or are looking to buy a commercial property? The purchase was an investment and so you will want to make the most, and be as tax efficient as possible, with your commercial property.

Owners or investors in commercial property in the UK get very few “tax breaks”. So, it may surprise you to know that a legitimate and valuable form of tax relief, “capital allowances” are either under-claimed or not even claimed at all. Recent data suggests that only 10% of eligible claims are actually made. This may be because developers and investors are either unaware of capital allowances or believe the process is too complicated.

Hayven Property Tax offers a consultancy service to ensure the ownership of your commercial property is as tax efficient as possible, including processing capital allowance claims.

The process is not complicated, however, it can be time-consuming. With huge tax rebates and/or lower tax bills – it is worth investing the time to explore your chance of a claim. Utilising commercial property tax consultants, such as “Hayven Property Tax”, allows you all the benefits of making the claim, without the heavy lifting and time-consuming activity – as they do it all for you.

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Offices to Rent or Convert to Housing?

On the 6th April 2016 an amendment to the “permitted development rights” allowed commercial property owners to convert the property to residential use, without gaining planning permission. This was previously a “temporary” right, which was made permanent. This applies only to England. Wales and Scotland have different guidelines (call a Hayven property Tax consultant for the latest guidance).

During late 2016 and into 2017, many commercial property owners converted their property to residential use.

The “relaxation” in required planning permission aimed to create more residential housing throughout England. However, the subsequent loss of commercial properties to rent or lease and a slowing of the residential property market meant that keeping the use as “commercial” could be a better investment.

Redevelopment and Refurbishment Projects

Although you can no longer make a claim against the structure of the building i.e. walls and ceilings, you can make a claim against fixed assets within the building i.e. kitchens, lifts, heating systems and bathrooms.

This really comes to the fore if you are redeveloping or refurbishing a commercial property.

How Can Hayven Property Tax Help?

Whilst many property tax consultancy providers are led by sales teams who are driven by getting leads and enquiries, Hayven Property Tax is run by qualified Chartered Accountants. Compliant claims, exceptional and personalised customer service and maintaining their excellent reputation is at the forefront of their business.

Find out more here: www.hayvenpropertytax.co.uk/how-to-make-the-most-of-your-commercial-property/