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Capital allowances

We are able to provide specialist experience to help maximise tax relief on capital expenditure, minimise the potential compliance burden and mange risk effectively of capital allowances through:

  • Preparing or developing appropriate compliance solutions;
  • Providing capital allowances consultancy advice and support on transactions, reorganisations and disposals; and
  • Introducing innovative capital allowances ideas that extract greater value from capital allowances.

We can offer a free and “no obligation” initial review to assess the potential tax savings which could arise from any detailed work.

Generating Tax Repayments from Historic Capital Expenditure

Recent Changes mean it is highly likely that businesses have understated the level of available tax relief and are missing out on unclaimed cash tax savings in connection with expenditure incurred in acquiring, constructing or refurbishing buildings or property over the last ten years or so.

The level of these savings could be significant and can be obtained from expenditure in tax periods that are now closed.

It is possible to go back to those prior tax returns, which could have been filed with HMRC several years ago, and identify some valuable and telling cash savings.

Experience has indicated that it could result in an increase in eligible expenditure by up to 40%. Tax returns that are still open can be amended and for those which are now closed, any new eligible expenditure can be added to the relevant capital allowance pools in later returns.

Additional tax relief can be secured and where restating prior year returns, the potential for cash tax repayments arises.

Additional savings could also arise from projects commenced after 1 April 2008 due to changes in the capital allowances legislation which have effectively widened the scope of eligible expenditure.

Here to Help

We are able to offer a historic review of capital allowances which can identify the additional, potentially significant, qualifying expenditure for a business, even if there has been a review in the past.

FLB manage the process from start to finish – liaising with the business to obtain the necessary information, preparing the necessary reports identifying the eligible expenditure and resolving any potential HMRC enquiries. All of this is carried on in conjunction with the business to ensure effective and efficient delivery. A flexible approach to fees with either value – based or fixed fee arrangements on offer which guarantee to be competitive and value for money at all times.

Why FLB?

FLB is able to offer a wealth of experience across all industry sectors backed up with qualifications in both taxation and surveying. Extensive experience in preparing and agreeing claims with HMRC and the Valuation Office Agency ensures that businesses are best placed to take full advantage of any unclaimed relief.

For further advice on how your business could benefit please contact Daniel Faust.