Capital Allowances claim on a new build furnished holiday let in Valencia, Spain

Description E3 Consulting identified to the client the opportunity for claiming Capital Allowances on holiday lettings identifying circa £100,000 of qualifying expenditure

Spain FHL

Evaluate

Our client had recently finished the building of this luxury 6 bedroom house with private swimming pool in Valencia and had started letting it out to pay for itself until they moved there permanently on retirement.

Until then, the client was totally unaware of the rules regarding capital allowances tax relief on properties built for holiday letting.

Evolve

E³ were responsible for assessing the situation, recommending a course of action and then finally producing a clear report for submission to the tax office via the client’s accountant.

Enhance

Tax relief identified:

  • Plant and machinery allowances circa £100,000.

Testimonial

Owner:

“E3’s detailed capital allowances report has resulted in a tax rebate for the current year of letting and a continued claim for several years to come.  I have no hesitation in recommending E3 as property tax consultants for any kind of building project.”

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