Our initial review

We completed our initial review and established that tax savings were available against the build costs of the new development above what the accountants had already claimed. However, we didn’t just find capital allowances on this new development, we found something even more when discussing Bito’s other properties…

Capital Allowance Review Service Team engaged in presentation meeting

Discovering benefits from previous years

When digging deeper we uncovered further expenditure that had been spent in 2008 on another one of their units which we felt should be explored. In total the client had spent in excess of £1,500,000 and we felt a full review would secure a significant level of capital allowances to support the business’s tax position. This emphasises the importance of looking thoroughly into the client’s expenditure. Our process didn’t just focus on the recent new build but took the approach to fully understand our client’s portfoilio.

warehouse with shelving

The benefits retrieved

  • A number

    was spent by the client

  • in excess of £350,000

    of costs that qualified for capital allowances

  • 23%

    of the overall costs the client spent

  • £75,000

    of tax savings secured for the client

What our client thought...

“BITO Storage Systems has grown at a fast pace over the past decade, producing sensible profits and paying our taxes in the UK. I feel that the tax benefits we obtained with the support and guidance of Capital Allowance Review Service will enable us to invest more into the continued development of our company and therefore recommend them to like-minded businessmen.”

Mr E Hutchison | Managing Director

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Observations from our Managing Director, Chris Roberts:

At a high level the subject of property embedded capital allowances can be seen as very logical and most understand the concept once explained. This case is a good example of why quality advice from experts with a comprehensive process and approach is just as important.

A capital allowance consultancy firm with a multi-disciplinary team, in my view, was able to go further. Our initial review doesn’t solely focus on property, due to our accounting and tax disciplines we’re able to review the bigger picture and understand the client’s business costs, treatment and tax profile. Not only does this ensure the maximum tax relief is secured, as the BITO case study shows, it also ensures we understand how our clients can use any capital allowances highlighted from a tax point of view.

Chris Roberts Managing Director of Capital Allowance Review Service
To speak to one of our expert team to see if your commercial property qualifies for tax relief, get in touch now!

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