Tax Recovery Services

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Tax Recovery Services has developed its services to support a growing concern from many specialist property and tax advisers that a large % of their clients’ accountants and solicitors continually fail in their professional duties in providing their clients with the correct tax advice.

What is Capital Allowance Tax Relief?

The decision of the Court of Appeal in the case of Mehjoo v Harben confirmed that part of an accountant’s duty to their client when completing their annual tax returns is to give advice about all of the available tax relief incentives that are available to a client, which might very well reduce their tax liabilities.

A client is entitled to rely upon their professional advisers to provide the most accurate tax advice and to comply with the legislation changes to the Capital Allowances Act 2001 which became enforceable on the 1st April 2014.

The new ruling relates to commercial property transactions that completed from the 1st April 2014.

The effect of the ruling is that if within 2 years of the completion date:

1. any available Capital Allowances are not declared within either the sellers, or purchasers tax returns, and
2. a formal election notice (s198 for freehold transactions for example) is not lodged with HMRC

then they will be lost forever.

We can arrange for a team of specialist tax advisers, solicitors and barristers to assist claims to be pursued for recovery of losses caused by accountants failing to reduce tax liabilities.

Our Mission

Our mission is to assist clients who have sold a commercial property for more than £1,000,000, since 1st of April 2014 by reviewing if they have received all of the Capital Allowances statutory tax relief they were entitled to.

For a property valued at £1,000,000 the recovery of these allowances can be in the range of £50,000 – £100,000 cash benefit.

The team of specialist tax advisers will provide you with an initial free of charge consultation of your capital allowances tax position in order to verify the amount that you can claim.

Once we have qualified your position, you can then instruct the legal team to act on your behalf, and they will provide their services on a no win no fee basis to recover your cash repayment from your accountant’s insurer.