About The Claim
Our client, an award-winning company specialising in dependable, cost-effective transport and storage of palletised goods for over seven decades, sought to optimise possible tax relief via a full review of their expenditure. They incurred significant costs totalling £6,345,724 after acquiring land and building a brand new facility. A full review considered the following tax breaks; Capital Allowances, Structures & Buildings Allowances (SBA), Land Remediation Relief (LRR), Super-deduction, and other First-Year Allowances (FYA). A good collaboration with the client’s accountant ensured the process and applicable to the clients tax profile was seamless.
Our Approach
The build project took a significant amount of time meaning one of our main challenges was the tight timeframe to complete the claim before the tax return deadline of 30 April 2024. To address this, we initiated our fast-track process. We began with an initial review of the information available, projected the potential tax benefits, and upon client agreement, conducted the first step of a physical survey of the property.
Combining the detailed invoices & schedules with our comprehensive inventory and calculated valuations, we were able to analyse all costs to identify the available allowances. We ensured accuracy by cross-referencing expenditure details with our survey findings. Client involvement was integral, with them reviewing and discussing the inventory. We also navigated the complexities of formulating the land remediation claim. Finally, we compiled a comprehensive Claim Summary, outlining the claim details and projected tax savings, facilitating seamless integration into the client’s tax returns.
Examples of some of the embedded qualifying items that we found...
Vehicle inspection pits
Docking bay levellers
Attenuation tanks
Electric switchgear
An observation from our Managing Director, Chris Roberts...
“This case is a great example of the importance of having all parties working collaboratively. We were able to explore and secure all the possible tax breaks as the client invested the right resources and provided quality information. The client received clear and transparent details regarding the tax benefits of the review due to us and the client’s accountants maintaining open communication to ensure our process and theirs were well aligned. Although the case was time sensitive, the businesses involved made for an effective and well managed result.”
“Having worked with CARS on several occasions, I didn’t hesitate to refer one of my clients to them for a capital allowance claim. They demonstrated their expertise once again by securing significant tax savings for my client, which exceeded our expectations. Their thorough understanding of the complex tax landscape and dedication to maximising benefits was evident throughout the process.
Working with them has always been a seamless experience. Their team is professional, knowledgeable, and always ready to collaborate to achieve the best outcomes. I highly recommend them to anyone looking to optimise their or their client’s tax position through capital allowance claims.”
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