Only 4% of commercial property owners have claimed their full capital allowances!

Did you know that only 4% of commercial property owners have claimed their full capital allowances?

When a commercial property is purchased, HMRC allow for many of the fixtures and fittings to be classed as capital allowances, and can be offset for tax purposes. For some, this figure can amount to 50% of the purchase price of the property.

For example, did you know that an air conditioning system is classed as “plant and machinery” by HMRC (you can see the list of items on the HMRC website by clicking here), and therefore capital allowances can be claimed against the value. Bathroom and sanitary fixtures (sinks, showers, toilets) are also classed as “plant and machinery” and so their value can be claimed as a capital allowance.

Of course, it is not an easy matter determining which items can be classed in this manner, nor what value to put on them.

So, why are so many people failing to claim these allowances?

Very simply, most accoutants are not involved in this very specialist area, and as such do not advise their clients. Unfortunately, if you fail to claim these allowances, then you will lose them!!!

We are working hard with a number of accountants to increase awareness of this little used allowance. Many commercial property owners will receive substantial rebates when they utilise this allowance correctly.

We can instruct a specialist surveyor that will ba able to determine what itams can be claimed for, and what value to put on them. We will then work with your accountant to agree the figures, before submitting a claim to HMRC.

So, what is the catch?

Well, we obviously want to be paid for our work, and we will charge a fee, determined by the value of allowances identified. However, if we fail to idetify at least £25,000 of allowances, or we fail to produce a report, you pay NOTHING! Otherwise, we will charge 6% of the allowances identified, although this fee is also tax deductable! We also have options to defer payment until your refund has been received.

HMRC is changing the way people can claim from April 2012, so don’t leave it until it is too late. Contact PKS to discuss your capital allowance tax claim now. Click here to send us a message now, or call on 0845 226 5009.

We GUARANTEE to beat ANY UK home insurance quotation!

PKS Property Services, one of Hampshire’s top insurance brokers, are pleased to announce a new initiative – “We guarantee to beat ANY UK home insurance quotation”!

PKS, based in Odiham near Basingstoke in North Hampshire, has become an introducer appointed representative of Safe & Secure, an award winning general insurance broker. Safe and Secure were voted the “Best Broker for General Insurance” at the Mortgage Strategy Awards 2011.

Through this new venture, PKS are now able to offer clients the opportunity to reduce their home insurance costs, with a guarantee to BEAT any other like for like quotation.

PKS Property Services was established in 1994, and has a reputation for being an expert in all areas of mortgages and insurance, offering “truly” independent advice.

Paul Skinner, managing director, said “We are very pleased to be working with Safe & Secure. Their philosophy ties in very well our approach to customer satisfaction.

“To be able to offer our clients this amazing guarantee will help us maintain our standing as one of Hampshire’s finest brokers.”

If you would like to discuss your insurance requirements, please call PKS on the number above, or click here to send a message.

Have you been turned away by the High St banks?

Aldermore has launched a superb, new 3.48%, 2 year discount mortgage – a seriously attractive alternative for creditworthy borrowers still struggling on the High Street.

Equally important, the rate applies to residential purchases or remortgages right up to 80% LTV.

There’s a completion fee of £999 and remember, Aldermore also offer free legal fees for remortgages on all products, regardless of rate or loan value.*

Unlike many lenders, our decision-making isn’t stuck in the past with traditional, inflexible credit scoring. We base our decisions on sensible, refreshing underwriting rules and criteria applied by real, experienced people.

Aldermore can often offer a solution to your customers currently being turned down elsewhere.

*No valuations, legals and zero completion fee offer applies to selected residential and non-commercial buy to let remortgages. £30 electronic transfer fee applies.

(Free legals offer applies to residential and non-commercial buy to let remortgages.)

Paul Skinner from PKS, one of the leading independent mortgage brokers in Hampshire, said “This rate is very attractive, especially for those people struggling to obtain a mortgage from the high street lenders. Available up to 80% LTV, this product will no doubt sell out very quickly.”

If you would like to discuss your mortgage options, just call us on 0845 226 5009, or click here to send us a message.

20% of Landlords experienced rent arrears in the last three months

20% of Landlords experienced rent arrears in the last three months http://pks.org.uk/article.asp?DocId=176

There is trouble ahead if interest rates rise

Tracy Corrigan of the Telegraph reports “There is trouble ahead if interest rates rise”

Three years after the financial crisis, there is a plan to fix the mortgage market. It is pretty basic stuff. The Financial Services Authority suggests that, in future, lenders should have to ensure that mortgage repayments are affordable, and verify borrowers’ income.

These are the sort of proposals that make one blink in disbelief: were banks really lending to large numbers of people with no visible means of support? Yes, they were; and some still are. There are also vast numbers of interest-only mortgages out there; in most cases there is no obvious plan for repayment, on the rash assumption that rising house prices will, in due course, bail out the borrowers and the banks.

To read the full article click here.

Homeowners paying SVR are missing out on £1.8bn in savings

Over 2.3m mortgage borrowers are now sitting on SVRs, accounting for 28% of the total mortgage market, according to Yorkshire Building Society (YBS). Research by YBS revealed 75% of SVR mortgage customers are on LTVs below 85% and the lender claimed that they could were missing out on savings of up to £1.8bn by not taking advantage of the current best buy deals.
Read the full article

UK property to HALVE between now and July 29 2010

This is part of an article from MoneyWeek

“It seems the worst is behind us,” says Nicholas Leeming of Propertyfinder.com. “Confidence in the housing market is at its highest since the credit crunch began.”

Don’t buy into the property rally, reader.

It’s for SUCKERS.

You have a right to be skeptical.
Nationwide reported that May house prices rose by 1.2%. Halifax claimed a rise of 2.6% for the same month.

The Bank of England confirmed that new mortgage approvals (often a good forward indicator) climbed 8% during April to 43,201, their highest level for almost a year.

So do the property optimists seem to have a point?

In a word: NO!

Dig below the surface, and the outlook is far worse than most in the mainstream press are willing to let on.

There are five rock-solid reasons why we think residential property will halve between now and July 29, 2010…..

Click here to read the rest of this article.