This large office building located in outer London cost the owners just over £4m to purchase. After establishing that the owners limited company was entitled to make a full capital allowances claim, we surveyed the property and produced a full disclosure capital allowances report. The claim identified £1.017m of previously unclaimed capital allowances. This equates to a potential tax saving over time of circa £200k .
A national organisation with seven offices spread across the UK. The value of the portfolio was in excess of £4m, and we were able to identify £550k worth of capital allowances. This equates to a total tax saving over time, at 20% corporation tax, of £110k. We were slightly disappointed by the result, in this case caused by the high cost of their London Office where it is not uncommon for the price of the land to make up 40% to 50% of the overall purchase value of the property. The significance of this is that it reduces the percentage that can be attributed to plant & machinery (p&m) attracting the capital allowances. The client, however, was delighted!
“This case was made less complex because the landlord purchased the units directly from the developer meaning the capital allowances claims history was easier than most to establish.”