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Terms of Business
1. I /We understand that Capital Allowances & Tax Recovery Limited (hereinafter referred to as ‘CAATRL’) have the exclusive rights to undertake the claim for current and retrospective Capital Allowances for the period up to and including the date on this Agreement.
2. In this Agreement where the context so admits, importing the singular shall include the plural and where the client is more than one person (hereinafter referred to as ‘the Client’), agreements herein are deemed to be joint and several.
3. The Client agrees, to supply the information and documentation requested by CAATRL promptly and also provide written authority and encouragement to third parties, enabling them to provide information and to correspond with CAATRL in connection with any Capital Allowance claim.
4. The Client agrees to bear their own costs and those of any third parties in providing this information. All documentation requested by CAATRL and provided by the Client and any third party authorised by the Client will be deemed correct.
5. Where CAATRL are processing a claim for Capital Allowances, copies of any correspondence between HM Revenue & Customs (hereinafter referred to as ‘HMRC’) and the Client relating to the claim or any previous claims are to be made available to CAATRL together with any other information considered by the Client or the Client’s taxation advisor, to be pertinent to the preparation of a Capital Allowances claim.
6. The Client understands that in signing this Agreement, the Client is authorising CAATRL to undertake to assess the eligibility of the Client’s business to make a Capital Allowance claims, and to process that claim on the Client’s behalf. CAATRL will establish the figure in which such Capital Allowance claims can be made and will prepare a Report indicating the extent of the claim. The Report will be sent to the Client and the Client’s advisor/accountant for submission of a claim to HMRC.
7.The Client understands that CAATRL accepts no responsibility or liability for any subsequent cost, taxation or similar liability, loss of relief, claim or counter claim which may arise as a result of any negotiations with HMRC or any other public or statutory body. The Client accepts that CAATRL’s obligations under this Agreement shall end once the Report has been rendered.
8. The Client agrees that fees under the terms of this Agreement shall become payable to CAATRL as follows:
A Survey Fee
Furnished holiday lettings
£450 + VAT payable now
UK commercial property
£750 + VAT payable once likely Capital Allowance claims have been identified up to £500k
£995 + VAT payable once likely Capital Allowance claims have been identified between £500k and £2m
£1500 + VAT payable once likely Capital Allowance claims have been identified between £2m and £5m
£2500 + VAT payable once likely Capital Allowance claims have been identified at £5m+
A Report Fee
The fee for the production of the Report is 5% of the total amount of capital expenditure identified by CAATRL as qualifying for Capital Allowances. The fee is subject to VAT and is payable 14 days from invoice.
Should CAATRL fail to identify at least £25,000 of additional Capital Allowances, then no fee is payable whatsoever.
Report Fees become payable to CAATRL upon receipt by CAATRL of confirmation from the Client’s advisors/accountants that the original and additional expenditure identified may be claimed as Capital Allowances.
CAATRL reserves the right to levy such fees where the client’s advisor/accountant does not provide confirmation of his acceptance of the expenditure in our Report and his intention is to submit a claim to HMRC, or his rejection of the Report with an explanation of the reasons for non-acceptance within 14 days, or where the full amount of allowances identified, by CAATRL as being available, are not received by the Client due to some fault or omission by the Client or their advisor/accountant.
In the event of any dispute from HMRC as to which items identified in our Report qualify for such allowance, CAATRL will provide specialist assistance if required by the Client.
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