About The Claim
The claim is in respect of various property additions and improvement expenditure to two properties and the build of a new industrial unit to house a metal recycling centre. The improvement expenditure spanned a period from 2008 to 2019 with the build of the new unit from 2019 to 2021. The claim encompassed both capital allowances and land remediation relief and therefore suitable procedures were necessary to identify qualifying expenditure for each tax break. Working closely with the client’s accountant ensured we isolated costs already claimed relating to the existing sites, and also in relation to the plant & machinery in the new recycling centre.
First, we thoroughly analysed an extensive volume of accounting information to fully understand historical property expenditure and accounting treatment along with details of the recent build project. This enabled us to confirm entitlement to claiming both capital allowances & land remediation tax relief against the client’s Land & Building costs. This enabled clear and precise instructions for our surveyors to be formulated with particular attention to the timeline of expenditure. This is important for accurate valuations to be calculated.
Our capital allowance specialists are then able to identify and analyse the items & systems which would qualify for capital allowances. An important part of the process is reviewing accounting and other key information to disallow items included in our survey on which allowances (or other forms of tax relief) had previously been claimed.
After confirming the qualifying, unclaimed, and available expenditure, we apply the claims to the accounting periods accordingly with the required tax return amendments and submissions to follow. The result was a claim broadly in line with our expectations at the outset, with additional land remediation relief claimable.
Examples of some of the embedded qualifying items that we found...
Electrical Power Systems
Fire Safety Systems
“I was recommended by my accountant to lean on the CARS team for support with a capital allowance claim. The team was on top of the whole process, their thorough review of all our documentation, right through to the surveying of the property and producing the final reports. They had good communication and they achieved a great result for us, we are pleased with the service received.”
Paul Mullett | Director
“There’s clear evidence of dedication when you work alongside this team. Each stage of the process contributes to collating a well-put-together claim that can be fully backed up. As an accountant, it’s important that I can continue my day job while these claims are being processed, and the CARS team achieved this by driving it all. I will look forward to working with them on other claims.”
Liz McMillan | Client Services Director
DJH Mitten Clarke