Unlock Hidden Tax Relief with STax’s Specialist Commercial Property Legal Pack
When dealing with commercial property transactions, untapped tax relief opportunities can often be overlooked. At STax, we offer a bespoke Commercial Property Legal Pack designed to assist legal advisors in seamlessly uncovering Capital Allowance opportunities for their clients. By partnering with us, you can enhance your client offerings, providing critical financial insights that may otherwise go unclaimed.
WHY CHOOSE STAX’S COMMERCIAL PROPERTY LEGAL PACK?
Our team of qualified Surveyors, Accountants, and Property Tax Specialists collaborate closely with legal advisors to identify, evaluate, and process potential Capital Allowance claims on commercial properties. With over a decade of experience and a proven track record of recovering over £500 million in tax relief, STax is uniquely positioned to unlock value for your clients through our step-by-step Capital Allowance identification and claim process.
WHAT IS INCLUDED IN THE LEGAL PACK?
Our Commercial Property Legal Pack equips you with:
Detailed Property Analysis
Comprehensive reviews of property transactions, enabling clients to benefit from unclaimed Capital Allowances on items such as electrical, plumbing, heating systems, and other embedded fixtures.
Enhanced Due Diligence
Conducted by our in-house specialists, our due diligence process ensures that no eligible allowances are missed, even when dealing with complex property ownership histories.
Tailored Reporting
Receive an in-depth, HMRC-compliant report that breaks down potential tax savings, ready for submission by your client’s accountant. This streamlined process saves time and ensures accurate claims.
ARE YOU THE BUYER?
Commercial Property Standard Enquiries (CPSE.1)
We will examine the Seller’s answers to Section 32 of the CPSE.1, offering guidance, raising challenges, and more as necessary.
Purchase Contract
Including the correct clauses is essential. We will recommend the appropriate clauses for the Purchase Contract, ensuring the Buyer can access any potential tax benefits without causing transaction delays.
Section 198 Election
We will provide a compliant S198 Election along with the necessary supporting documentation, meeting legislative requirements and securing available Capital Allowances for the Buyer.
ARE YOU THE SELLER?
Commercial Property Standard Enquiries (CPSE.1)
Section 32 specifically addresses Property Capital Allowances, clarifying the Seller’s position.
Purchase Contract
Including the correct clauses is essential. We will recommend the appropriate clauses for insertion into the Purchase Contract, ensuring the Seller’s intentions are properly secured.
Section 198 Election
We will provide a compliant S198 Election along with the necessary supporting documentation, meeting legislative requirements and securing any remaining Capital Allowances for the Seller.
A Section 198 Election, under the 2001 Act, is a document that establishes the Property Capital Allowance positions for Commercial Property transactions completed after April 2014. However, certain transactions are exempt from the new legislative changes and do not require a Section 198 Election. Although Section 198 Elections, as outlined in the Capital Allowances Act 2001, have been in use for many years, they are often misunderstood, improperly completed, and not fully utilised.
According to the CAA 2001, a Section 198 Election is the method by which the seller and buyer agree on the apportionment of capital allowances for fixtures and fittings in a property sale. It offers a straightforward way for both parties to meet the fixed value requirements of the CAA 2001, which have applied to sellers—regardless of whether they have previously claimed capital allowances—since April 2014.
S198 Elections must be completed within two years of the transaction completion date; otherwise, any available allowances will likely be permanently lost.
CPSE stands for Commercial Property Standard Enquiries. The CPSE is a standard set of pre-contract inquiries provided by the seller to the buyer in a commercial property transaction. It contains multiple sections designed to gather essential information from the seller about various aspects of the property and transaction.
In the CPSE, Section 33 specifically focuses on property Capital Allowances. This section aims to clarify the seller’s capital allowance position concerning embedded fixtures and fittings, excluding movable furniture and equipment.