About The Claim
On commencement of the client’s lease, the building was an empty shell industrial unit, prompting an extensive fit-out works to transform it into a modern gym facility. The client, being the tenant, presented the challenge of excluding any expenditure incurred by the landlord. Additionally, the cost of gym equipment had already been accounted for in the client’s financial records, necessitating its exclusion from the claim.
Our Approach
Identification of Excluded Items: We identified items that the accountant had already claimed to exclude from the survey, ensuring accuracy and consistency in the claim process.
Property Survey: A thorough survey of the property was conducted, resulting in a detailed report that outlined all items found during the assessment. This report served as a transparent and informative basis for the following stages of the claim process.
Valuation and Individual Research: Items within the survey were carefully valued which included carrying out individual research to make sure the information is accurate, particularly for specialised items like gym floor tiles. This complex valuation process ensured accurate and fair representation of each item’s contribution to the overall claim.
Allocation to Pools and Application of Allowances: The surveyed items were categorically separated into general and special rate pools, with the correct allowances such as Annual Investment Allowance and Super-deduction meticulously applied to each pool. This step was crucial in maximising the potential of the claim.
Client Communication and Consultation: Throughout the process, constant communication with the client was maintained. Regular meetings were offered to address any queries and keep the client well-informed about the progress and details of the claim.
Examples of some of the embedded qualifying items that we found...
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Sound system
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Air conditioning system
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Wall-mounted studio mirrors
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Sprung rubber specialist gym flooring
An observation from our Project Coordinator, Lydia Marks...
“The client did all of the fit out themselves so a lot of the expenditure was on qualifying items. This is a great industry type for claiming capital allowances because of the volume of specialist plant that is required.”
Accountant Testimonial...
“It’s great to see a large chunk of my clients expenditure being claimed back. The team at CARS always do a thorough job when it comes to putting a claim together. Capital allowances definitely aren’t simple and their knowledge and expertise certainly comes to light when you work alongside them.”
Rebecca Thorley | Client Services Director
DJH
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