Please note, this is not a new concept. We provide ‘in-house’ Capital Allowance divisions for a number of organisations.
Croner TaxWise is a great example of how our expertise over the last 6 years has helped their offering and delivered a great service to their clients.
The law has changed a number of times over the last few years and with the introduction of the new rules, the situation can become even more complex and certainly more dangerous if you get it wrong. There needs to be a high level of Due Diligence and we all know how onerous & time consuming that can be! To achieve the maximum benefit requires no shortcuts. Therefore a ‘room by room’ survey and subsequent valuation of the qualifying items identified is a prerequisite and also a major demand on time. You need to know what to look for.
As part of the exercise it is important to understand the tax profile of the Client and to include any exit strategies so correct use of the tax benefit can be applied. Timing could be critical.
As far as the New Rules introduced in 2014 are concerned, any sign of a disposal or acquisition should ring alarm bells and require effective and sometimes fast advice.
How often do we discover a Client is in the middle of buying or selling?
This needs time, resource and expertise and it is simply not always available is it?
There is an answer. We can embed a PEFFs & Capital Allowance department in your practice that to all intense and purposes will look like you, act like you and sound like you. It can be dual branded, white labelled, a JV or sub-contractor arrangement. It could have your email address, your paperwork, your letterhead etc.
Our process deals with everything from start to finish including dealing with HMRC and any queries FOR THE TWELVE MONTHS AFTER SUBMISSION.
Scope of work includes. Client instruction, Due Diligence, claim projections, the survey and valuations, credit control, seminars, newsletters, in house clinics & an advice line.
Importantly – we also understand and deal with the new legislation and how it applies. We even have a legal pack for reference to Solicitors.
Fees are contingent and there are no ‘up fronts’
The important issue here is trust and that can be addressed. We have been a provider for over 16 years and one of our Directors was on the HMRC working party that introduced the legislation change of 2012. We have never lost a case and have an ex HMRC inspector, whose role was overseeing CA’s, as one of our team.
Importantly, one of the key benefits, is that it makes it harder for a predator to steal your client through the back door if you can be seen to deal with this comprehensively ‘in-house’.
5 December 2023
Capital Allowances ManualCapital allowances play a significant role in taxation. Allowing businesses to claim deductions for the depreciation of their assets. Among these assets, plant and machinery are frequently mentioned. However, the term “plant and machinery” is not explicitly defined in tax law. It should also...
22 November 2023
Autumn Budget 2023: Changes to Capital AllowancesThe Autumn Budget of 2023 has arrived, and with it comes significant changes and developments the government has put in place. Chancellor Jeremy Hunt delivered the statement on Wednesday, 22 November 2023. For businesses and individuals alike, these adjustments in tax policies can have far-reaching implications.
Our expert team are here to help answer any of your capital allowances questions or enquires you have about your commercial property.