“In my industry it is vital that you look after each client as an individual and tailor to their needs and this is exactly what Sharon does. Sharon is exceedingly good at this and make sure all potential clients are offered the highest possible bespoke service thus making your potential property purchase easy and simple. She has a knack for going that extra mile for her clients, whether it is assisting them opening a bank account or simply pointing them in the right direction when it comes to a good restaurant. She is a pleasure to deal with on a business level as well and I look forward to working together with her for years to come”.

James Stanton

Senior Currency Analyst

The euro zone economy was estimated to have grown by 1% over the last 3 months official figures have shown. The German economy grew by 2.2% and the US economy by 0.4%.

So what exactly is a Capital Allowances rebate?

If you own a commercial property in the UK or an overseas property which you let out for rental income there is a distinct possibility you are entitled by right to reclaim capital allowances historically unclaimed on your unit.  This is a specialist area requiring expert surveyors.. Most property owners simply assume that all capital allowances are the responsibility of their accountant to claim or offset. This is not the case and most owners are entitled to receive a rebate yet unclaimed on each unit owned.

So is a holiday home classed as commercial property and how would you know if you qualified for a capital allowance rebate?

For tax allowance purposes [yes] a property overseas is classed as commercial, there is a basic criterion:  The property must be a furnished holiday let in the UK or an EU country.  The owner must be a UK tax payer. The rental income must be declared on your tax return. The property must be let out for more than 70 days each year and available for more than 140 days per year. The property can be anything from an apartment to a  villa although the purchase price must have been at least £300,000 on an overseas unit.

What exactly would you claim on?

• Purchase price at least £150,000 UK / €300k in Europe

• Property Owner is subject to UK Tax

• Not held within a pension, government owned or charity

• No previous Capital Claim has been made

• Commercial Property – What can be claimed?

• Plant & Machinery strip out

• Heating Installations

• Gas and Electrical Installations

• Electrical Appliances

• Protective Installations

• Communications Installations

• Security Installations

• Hot & Cold Water Installations

• Ventilation & Air Con Installations

• Internal Fittings the list is long and varied; the following link will give a basic overview. http://www.capitalallowancerebate.co.uk/qualifications.ph

It all sounds very straightforward, is there a catch?

There is no catch but likewise there are no guarantees.  The resource allocation required by our team of quantity and/or land surveyors is immense and as such we require the individual claimant’s lawyer and accountancy representative to be suitably instructed and informative. This ensures that we are able to identify and claim the full extent of rebate entitlement.  We will not charge for the initial consultation and you will only pay us from monies you receive. Survey fees may be applicable in certain cases however this will not be required until your accountant is satisfied on the rebate amount identified and agreed on report.

Ok, what do I need to do next to put in a claim?

Simply email 360canaries@live.com  and one of our award winning customer service team will contact you accordingly.  You will only need to provide basic purchase details, complete a simple instruction document; we will then liaise with your accountant and lawyer.  You have absolutely nothing to lose but potentially plenty to gain!  We look forward to assisting you achieve your rebate or off set entitlement.

The basis of payment by the client is very flexible; they can do a fee structure in stage payments. Most prefer to pay once the assessment has been completed and signed off by the accountant. However we do understand that in some circumstances this is difficult e.g. the client has received a £200,000 Capital allowance rebate and the fee could be £20-£30,000. In this case we would could offer a deferment of payment .

Are you UK resident with a UK pension?  Do you want to access a cash lump sum now?

If the answer to these questions is YES please read on.

Pension Reciprocation Plan

A new facility which enables you to use your UK pension to obtain much needed cash

Every now and again we see something new which amazes us. This is no exception.

Many expats and UK residents alike are having a hard time of it. Unless you left the UK before 6 April 2005 (in which case you can obtain cash from a UK pension fund by transferring it to a QROPS in New Zealand), it can be frustrating indeed to be told there is a pot of money which you cannot use to access cash until you are 55.

Well we now have a solution to this problem – it’s called the Pension Reciprocation Plan (PRP)

By transferring your UK pension fund to a type of UK pension scheme called a Master Pension Scheme (MPS), you are able, through a process known as pension reciprocation, to access an immediate cash sum.

The lump sum you receive, which can be up to 50% of the value of your fund, does not come from your pension fund. To do so would not be allowed under the rules associated with UK pension schemes. The PRP is not therefore a pension liberation vehicle. The PRP does however allow you to access an immediate lump sum. This is done in a way that is consistent with the rules associated with UK pensions, 

Your pension fund will be invested in a manner that has the objective of enabling a good outcome when benefit is later taken in the usual way. Part of your fund is invested so as to deliver a return sufficient to meet the future obligation created by the PRP facility. The balance will be invested in an attractive asset backed fund which is only available through the MPS vehicle.

So we are now delighted to be able to offer a complete armoury of specialist pension products. 

Please email us for more information and we promise there will be no hasle, no obligation & no sales pressure just good old fashinoed service and advice. Email: 360canaries@live.com

NB: For Irish pension options please contact us.