Tax experts pen book to help hospitality owners save tax
The book, titled Capital Allowances for Hotels, Pubs and Restaurants, explains concisely what the allowances involve, shows how a business can tell if a proper claim has not been made, and gives guidance about how to avoid being duped by unscrupulous accountants.
Capital allowances enable businesses to save tax and are of particular interest for businesses that own or lease commercial property such as hotels and restaurants. They can also help businesses save money when purchasing equipment, such as a new kitchen, but are often misunderstood or not used to their full potential.
"There is nothing dodgy about these allowances - they are a legitimate part of our tax system but the opportunities to save tax are often missed as many accountants do not understand the rules well. This can cost owners many thousands of pounds," said Chidell.
Chidell, who has worked as a tax specialist for 25 years and has written about tax topics for family businesses, said the book, thought to be the first in this area, would take about an hour to read, and once understood, could help owners save 'substantial amounts of tax'.
Chidell added: "The book has been written specifically for business proprietors, rather than for their accountants, and is clearly presented in language appropriate for business people who are not tax specialists but who need to have some understanding of the issues."
The book is available from www.claritaxbooks.com for £14.50.
