About The Claim
Latham Filtration Ltd, a leader in solid and liquid separation technology, asked our team for support with an invoice review to help with a capital allowances claim against their 2 properties before they sold them. This is a service we offer for a fixed fee. Their recent expenditures included costs eligible for general and special rate capital allowances, leveraging both Annual Investment Allowance and the Super-deduction where applicable.
Our Approach
Our approach began with an initial review of the documents provided by the client, followed by a discussion to outline potential tax savings and clarify areas needing additional detail. We then analysed each invoice, distinguishing qualifying from non-qualifying items and reaching out to the client where further confirmation was necessary, such as verifying which windows were replacements. After completing our valuation, we prepared a Claim Summary with projected tax savings and detailed schedules for the client’s accountants, aiding their preparation of the amended 2023 return and the 2024 return. Additionally, we prepared S198 Elections for both properties in anticipation of their sale, followed by a comprehensive final report for the client’s records. This step-by-step approach ensured that the client could benefit from all eligible tax relief opportunities in their capital allowance claim.
Examples of some of the embedded qualifying items that we found...
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Replacement windows
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Kitchen fittings
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Ironmongery
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Doors
An observation from our Managing Director, Chris Roberts...
“This claim served as a reminder of the importance of obtaining detailed information from clients, especially in invoice reviews. Ensuring that expenditures are analysed with precision is essential to maximise eligible tax savings and to ensure accuracy for both the client and their accountants.”
“The teams invoice analysis uncovered qualifying items that hadn’t been previously claimed. Their proactive approach not only saved us money but also highlighted the importance of reviewing property expenditure at key moments. We’re incredibly grateful for their expertise and efficiency.”
Kay Latham | Director
“The team at CARS has become our go-to resource for capital allowance claims. Their attention to detail, expertise, and clear communication make them a pleasure to work with. Our clients benefit enormously, and their thorough reports make our job much easier.”
Adrian Veale | Senior Client Services Manager
DJH
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