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Capital Allowances Valuations

Owners and occupiers of commercial property are entitled to claim tax relief on certain assets within buildings under the current tax legislation. This relief, called capital allowances, is often embedded in costs that have been previously unexamined and results in claims being understated, often by a significant amount. CAPLUS provides a professional valuation service to capture these previously unclaimed allowances and secure tax savings for clients.
CAPLUS PROVIDES PROFESSIONAL VALUATION OF QUALIFYING PLANT & MACHINERY

Have You?

invested in the following over the last 10 years

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Caplus New Build Commercial Property

Built

a commercial property

Capsule Refurbished A Commercial Property

Refurbished

a commercial property

Caplus Purchase A Commercial Property

Purchased

a commercial property

Was Your Investment?

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€300K+

as a Private Investor

€1m+

as a Company Investment

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on any of the following

All types of commercial property should provide opportunity to identify additional tax relief.

RECENT CLIENT GAINS (click here)

Retail Unit

Type = Fitout

Construction Cost = €677,000

New Capital Allowances Valuation = €301,200


Total Cash Value

€123,500

Nursing Home

Type = Extension

Construction Cost = €3.1m

New Capital Allowances Valuation = €685,000


Total Cash Value

€228,00

Office Building

Type = Two Storey Building

Construction Cost = €440,260

New Capital Allowances Valuation = €93,000


Total Cash Value

€47,430

Initial Analysis

If you got this far and the answer to the above questions is YES, it is now time to carry out an initial analysis – which is free of charge. This will determine if there is an opportunity to claim additional Capital Allowances.

So please get in touch and remember this step is free and without obligation

CAPLUS V-LINE

We Will Need

A “NOMINAL ASSET LEDGER” with details of

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CAPLUS Document Extensions

New Building

additions

Caplus Plant and Machinery

Plant & Machinery

additions

CAPLUS FIXTURES + FITTINGS

Fixtures & Fittings

additions
CAPLUS respect your right to privacy and comply with our obligations under the Data Protection Acts 1988 and 2003.

Click here to read full Privacy Statement…

Our Valuation Process

Our team at CAPLUS has the combined expertise of the RICS and SCSI qualified surveyors. We have developed a Revenue approved process for the preparation of valuations to establish what qualifies under technical entitlement criteria, including relevant case law, precedence and accepted practice, our process involves the following steps:

  • Due diligence review with your accountant
  • Survey of the property
  • Analysis of the costs incurred on the project

Having worked with the Revenue Commissioners in developing their understanding of the practical application of claims for Capital Allowances, we use an approved schedule format to enable the value of identified allowances to be incorporated in your tax computation.

Due Diligence

Survey

Analyse

Report

FAQ

Frequently Asked Questions
Have allowances not already been claimed?

It is normal for a claim to already have been made by your accountants on expenditure that is easily identifiable as being on machinery and plant. In many cases however, allowable costs are incurred in a way that your accountant is unable to identify because they are included within a generally unspecified invoice. In particular, payments made to a main contractor will normally have no detail attached to them and will therefore be appropriately allocated to land and building additions in your accounts. We are able to assist your accountant to break these invoices down and re-allocate those costs that qualify for machinery and plant allowances. We then work with your accountant to prepare the claim with the calculated additional value.

What qualifies?

Tax relief is available on machinery and plant used in the trade.  There is no legislative listing of items that qualify as machinery and plant and the determination of what costs will be allowable is subject to the nature of the trade and consideration of the function of the equipment.  Case law and precedent along with accepted practice assist with providing a working procedure for identifying, valuing and claiming allowances.  The team at CAPlus has extensive experience in preparing claims and have worked with Revenue Commissioners in securing agreement to substantial tax savings for property owners, tenants and investors.

How much does it cost?

Our initial analysis is a free service to determine if unclaimed capital allowances exist.  Once we establish an ability to claim additional relief, we deliver our valuation service on an incentivised fee based on a percentage of the tax saving identified.  Our fees are calculated as 20% of the tax saving identified, plus VAT.

I own the property privately?

As self-assessed tax payers have responsibility for operating the Universal Social Charge in respect of all income sources, the tax saving will be based on your income tax rate including the USC.  This provides a higher effective tax rate for saving than the 40% higher rate of tax.  Including USC we have had clients saving at a rate of up to 55%.

Do I have to be paying tax?

You have two options available when your capital allowance analysis is completed.

Option 1 you can back date your claim on a straight line basis to a maximum of four years & carry forward four years. If you chose this option you will get a rebate from revenue provided you have being paying either income or corporation tax.

Option 2 you can carry forward your allowances over an eight year period on a straight line basis and write them off against future income.

Will a claim cause a revenue audit?

No, claiming you capital allowances now will not trigger a revenue audit. You are entitled to claim your capital allowances under the current tax legislation.

CAPLUS MASTER LOGO

CAPLUS was formed to help business owners maximise their profits by reducing their tax liabilities and generating rebates where possible through capital allowances. We work closely with financial professionals to maximise the return on investment in commercial property by extracting additional capital allowances within the building costs which have been previously unidentified.

Contact Information:

Reg. Office: 4 Greenview Terrace , Princes Street, Tralee, Co. Kerry

Telephone: +353 (0)66 7181871

Directors:

Scott Morris – MRICS, MSCSI | e. scott.morris@caplus.ie

Richard Walsh – FRICS, FSCSI | e. richard.walsh@caplus.ie

CAPLUS - Member od The Chartered Surveyors Ireland & RICS