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Case Studies |
1. Luxury Hotel , South East England
The property comprised a substantial luxury Hotel having 53 bedrooms, 2 restaurants, state of the art gymnasium, swimming pool, set in approximately 200 acres of landscaped gardens. The original property was inherited by the current owners and there have been numerous extensions and several major refurbishments. There had been previous capital allowance claims but having examined and analysed previous claims, accounts, returns etc. It was considered that there was potential for and additional claim, particularly taking into account embedded plant and machinery which appeared not to have been accounted for. A detailed survey was carried out by our Quantity Surveyors and Mechanical and Electrical engineers and an additional £1.1 million of previously unclaimed plant and machinery allowances were identified. The expenditure identified included the obvious such as furnishings and equipment, through to air conditioning, external floodlighting, electrics, disability ramps etc. A detailed Capital Allowance Report was submitted to Her Majesties Revenue and Custom , including Tax computations, Tax Return and Survey Costings. The total Tax Relief to the client is in the region of £400,000, part of which is receivable immediately, the remainder to be written down against taxable profits over a period of years.
2. Limited Company with three premises, North East based.
This limited company owns prestigious Head office premises on a superior Business Park, substantial City Centre Retail premises and a countryside Hotel. Again, analysis of Accounts, Returns etc confirmed that a Claim was worthwhile. Detailed surveys were carried out on all three premises with a view to identifying capital expenditure on qualifying plant and machinery. Total unclaimed allowances identified on all three premises was in the region of £850,000. As usual a detailed Capital Allowance report complete with Tax Computations and plant and machinery costings was submitted on HMRC with total tax relief in region of £170,000, part receivable immediately, the remainder written down against taxable profits over a period of years. |
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