According to research by the Law Society, there is a worrying level of confusion among solicitors in their approach towards capital allowances, which could leave them open to risks ranging from loss of income, to client complaints and litigation.
This is where JNC can help! We can competently guide you through the maze that is capital allowances and in turn give you piece of mind that no negligent claims, current or retrospective, are brought your way.
The data reveals that almost three in four are unlikely to draw their client’s attention to the importance of the capital allowances, while almost four in 10 solicitors believe it isn’t their responsibility to ensure that capital allowances are assessed. And of those that are willing to explore the tax relief, only 2% admit to taking the initiative to instructing a capital allowances specialist.
"The average capital allowances claim is worth £160,000 and in most cases a HMRC tax refund is due"