A recent claim
Capital Property Allowance Review has worked alongside Allen’s Caravans (Estates) Ltd.
They are a thriving family business, that provides luxury caravan parks to holidaymakers in the UK. With many stunning holiday sites holding the potential for a capital allowance claim. David Prince from NHHPA introduced us to Joe Folkes, the Managing Director of the company. After an initial chat with Joe, we established how we could add value.
Although this is something that we complete on every claim we work on, this case had its own unique challenges.
First of all, there was a high level of expenditure that needed to be reviewed, which spanned over a number of years. The company had a portfolio of a multitude of sites that needed analysing. Each park had continual ongoing improvements. All cases come with their own challenges. However, over more than 20 years, we have built up a wealth of experience and knowledge that allow us to tackle these issues effectively and provide the best results.
Let the process begin…
For us to begin our process, we need access to certain pieces of information. To fully understand a client’s tax position, and how expenditure has been treated, we require help from their accountant. Who gathers the following documents: the accounts, fixed assets registers, repairs, and tax returns.
Once we have these documents, we discuss the history of expenditure with the site managers. Plus how the sites were used, and how they have been developed. Finally, we will communicate with the client’s legal department. To gain access to key property documents, and to understand how and when the parks/ properties were acquired.
So, can holiday caravan parks qualify for capital allowances?
Yes, they certainly can!
The required due diligence for this specific case took a lot of manpower and time. However, the results proved it was all worth it.
We uncovered a significant level of additional capital allowances. These totaled £4,127,252 against both acquisition and improvement costs over and above what had already been claimed. The client gained an immediate tax benefit of £256,4747. Plus they secured further tax savings of £540,725 that would be used to reduce future tax liabilities.
“A great service, a great team and a great tax saving. We couldn’t have asked for anything better!”
Joe Folkes | Managing Director
“The expertise that CARS bring to the table is invaluable when it comes to providing the best service for your clients. I have experienced first-hand the lengths they go to in ensuring a good quality claim is produced.”
Angie Barrett | Accountant
R S Botham & Co
“I got in touch with CARS to help support us with our clientele of Holiday Park Owners. It’s important to us as a company that our clients receive the best service and CARS certainly helped us to do this. I wasn’t involved much with the process as CARS took the lead with everything, dealing directly with the client. However, we do know that the client received great results from their claim and they were pleased with the service – that’s all that matters to us. We will continue to work with them on further claims for our clients.”
David Prince | Director
Take a look at some other caravan parks we have completed a claim for...
To see if you qualify for a claim, get in touch with our expert team.
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