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Capital Allowances Solutions
UK taxpayers including: Property Investors Owner occupiers Occupational tenants SOLUTIONS Pre-contract advice Project monitoring Capital allowances claim preparation Inland Revenue and Valuation Office negotiations  SPECIFIC
SPECIALIST AREASTax efficient design audits Estimated allowances cashflow for tax computations Interim claims for long term projects Contract clauses Enhanced capital allowances advice Contract sum apportionment Development agreements Contribution agreements CASE STUDY A multi-national corporation has acquired a development site and is building a new headquarters building. The contract sum for the construction works is £20 million and consultant's fees are £2 million. The client fit out contract is £5 million. Early involvement allows the tax department and construction team to be fully informed of the requirements for a successful capital allowance claim. The system of data capture is established to satisfy the corporation tax self assessment rules and estimates of plant and machinery allowances are prepared for use in quarterly accounting calculations. The works are monitored to ensure full understanding is gained of the inevitable variations and additional costs that arise through the duration of the works. Claims are submitted for each tax year end through the duration of the project. The final value being agreed with the valuation office. Enhanced capital allowances may be considered. The final claim analysis which incorporates the consultant's fees and fit out costs is in the region of £10million providing an immediate saving of £2.5million to be set against profits. |
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