Capital allowances for Care Homes
Smarter tax solutions for care homes!
Capital allowances on Care Homes
Capital allowances are a form of tax relief that owners of care homes and other care facilities can claim on certain fixtures and fittings. Even if these items have been repaired or replaced, UK legislation allows us to still review, and claim in most cases.
A care home claim is typically 25% of the purchase price, meaning that if you bought your facility for £200,000, you could be sitting on up to £50,000 of unclaimed capital allowances!
Have the best capital allowances consultants on your side
At Eureka Capital allowances, we have over 20 years of experience in capital allowances, and help our clients to unlock thousands of pounds of hidden tax relief in their properties.
We don’t just help care homes, we also provide our knowledge and services to holiday and residential parks, pubs & restaurants, offices, doctors and dentist surgeries and B&B owners too!
What care home assets can qualify for capital allowances?
There are a huge number of different assets within your care facility that can qualify for capital allowances, including:
Capital allowances services
A huge number of care home owners miss out on valuable capital allowances that could significantly reduce their tax bills. In fact, according to HMRC, 80% of owners have never claimed!
At Eureka, we specialise in identifying overlooked opportunities for tax relief by assessing your facilities’s assets, items that were in the property when you purchased it, renovations, and purchases since acquiring the business. Our expertise and in-house capital allowance surveyors help owners of care homes unlock hidden savings and maximise their financial returns. Our team have unrivalled experience in unlocking this tax relief for care homes.
Why choose Eureka?
Proud members of the National Care Association
What are capital allowances, and how can they benefit care homes?
Capital allowances are a form of tax relief that allows care homes to deduct certain qualifying expenditures on assets, such as equipment, fixtures, and fittings, from their taxable income. This can reduce your tax liability and free up funds to reinvest in your business.
What kind of expenses in care homes qualify for capital allowances?
Eligible expenses often include heating and ventilation systems, lighting, security systems, furniture, and even improvements to your building. A professional assessment can help identify all qualifying assets in your care home.
Do I need to own the property to claim capital allowances?
Not necessarily. If you are leasing the property, you may still be eligible to claim allowances on the fixtures and fittings you’ve installed. Ownership of the assets, rather than the property itself, determines eligibility.
Can I claim capital allowances on a care home I recently purchased?
Capital allowances can often be claimed on the purchase of a care home if the transaction includes qualifying fixtures and fittings. It’s recommended to conduct a capital allowances survey to identify these opportunities.
Questions?
Have any questions that we haven't answered here? Get in touch with us and we will do our best to answer them for you!
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We are team of Capital Allowances Consultants with over 20 years experience, helping commercial property owners unlock hidden tax relief in their property.
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