BHA Welcomes Savills Capital Allowances on Board as New Business Partner

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. July 23, 2014

July 23, 2014 - Savills Capital Allowances Consultancy, one of the leading specialist practices in the UK, has joined forces with the British Hospitality Association (BHA). By partnering with the BHA, Savills will be able to offer specialist capital allowances advice to Members utilizing their real estate, construction, tax, accounting, legal and engineering expertise with a view to identifying and maximizing the full capital allowances available.

Says Michael Brownsdon, Savills Associate : “Substantial tax savings can often be found within commercial property assets. They are often hidden as fixtures integral to the building and, consequently, have not yet been valued and claimed by a company's accountant. Our role is to offer specialist guidance to companies who can maximise their commercial assets.”

Savills have experience with all commercial building types, in particular within the hotel and restaurant sectors, and offer strong relationships with both HMRC and the VOA.

The key areas where Savills can assist BHA members claim their full tax entitlements are:

• Purchase of hotels, restaurants and other commercial property, in particular in relation to the new fixtures rules introduced in April 2014;
• Review of historical purchases to identify and value embedded capital allowances overlooked or under-valued at the time of transaction;
• Complex building projects (refurbishment and new build), especially where cost detail information is poor or missing;
• Review of historical capital expenditure to ensure maximum value of allowances have been correctly identified and claimed;
• Accelerated tax relief through the selection of specified energy and water saving plant and machinery.

Ufi Ibrahim, CEO of the British Hospitality Association said: “Cost efficiency and commercial savvy are vital for any hospitality business and specialist knowledge can help to positively impact the future of individual businesses. The BHA is committed to raising awareness of vehicles that hospitality establishments can use to achieve greater financial performance. We are delighted to have Savills on board as leaders in capital allowances and we are confident that their work for our members will benefit many hospitality businesses on an even stronger financial footing. About Savills

Savills market leading Capital Allowances Consultancy team deliver a high quality service to clients investing in and occupying commercial property, across the UK. Their proven multi-disciplinary approach utilises a combination of specialist skills combined with a well-established dialogue with HMRC built on years of submitting claims, negotiating and agreeing values.

Savills Capital Allowances Consultancy have specialist expertise in: Tax and Accountancy, Quantity Surveying and Property Valuation, This approach enables them to maximize client capital allowances recovery levels and agree our valuations with HMRC as efficiently as possible. They are a dedicated, multidisciplinary team of qualified tax advisors, chartered quantity surveyors, tax-qualified chartered surveyors, legal and property experts. Their renowned real estate expertise and over 100 years combined experience in this highly specialised field ensures that thier clients' allowances are truly maximized.

About the BHA

The BHA is the leading agenda-setter and members organisation for the hospitality and tourism industry, promoting the interests of operators, brands and owners across hotels, restaurants and food service, serviced apartments, clubs and visitor attractions. The BHA's vision is to shape the future of hospitality and tourism as a driver for international competitiveness, economic growth and valuable careers - to ensure British Hospitality and Tourism is the best in the world.

For more information, please contact:
Julia Svetlosakova
BHA
T + 44 (0) 207 404 7744
E [email protected]