Commercial First launches capital allowance service
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The Commercial First Partnership – a national group of commercial finance professionals formed in 2009 by Commercial First Mortgages – has launched a new capital allowances service.
The service enables CFP partners to deliver cash flow benefits to their clients and earn an additional income for the referral.
Stephen Johnson, sales and marketing director at Commercial First, says: “Commercial property owners are entitled to a very material tax relief on plant and machinery within their premises. It is estimated that 90% of property owners are either unaware of or not maximizing their entitlement. This is a specialist field relying on a high degree of property skill, and we have identified a number of expert firms who can deliver this service to our partners’ clients.
“Capital allowances can be claimed on property acquisition or retrospectively for up to six years from the original purchase date – providing a fertile opportunity to canvass existing clients.
“The service can deliver real cash benefit of between 5% or 10% of a property value, and generate a material commission for the referral. It is an ideal product for us as we look to identify new sales opportunities for our partners”.
CFP estimates that partner commission for each successful capital allowance claim would normally average £2,000. Ideal sectors for this service are healthcare, leisure, motor trade and those clients with industrial or office property.
Johnson adds: “It is this kind of value-added service that we feel will position our partners as key professional advisers to their clients – something vital to enhancing loyalty and winning referral business.”
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