On average £ millions of land tax has been overpaid because of the reliefs that are available and not claimed
Suppose a company buys an office building for £1m, of which £200k is land. Rent is £50,000 pa and interest £30,000. Corporation tax at 19% on £20,000 would be £3,800. But now there is also Structured Building Allowance (SBA) of £16,000 leaving taxable income of £4,000 and tax of £760. This reduces the tax bill by 80%!
- Have you during the last 12 months bought property?
- If so are you confident that you mitigated the tax you paid by claiming ALL the reliefs that are available ?
- If eligible we can recover overpaid land tax by retrospectively applying for the the reliefs that would have been available during the last 12 months.
if so contact us we can help...
From some simple information we can quickly and at no cost, assess whether you are eligible for a retrospective relief claim