About The Claim
Widem UK Ltd, a logistics supply chain business specialising in arranging freight transport by road, looked to capitalise on tax breaks related to the purchase and fit-out of a new property. The property, a two-story structure comprising warehouse and office space, was acquired in March 2023 from a property developer. Widem UK Ltd then invested in fit-out costs to tailor the premises to its operational needs. The claim primarily targeted capital allowances, Structures and Buildings Allowance (SBA), and First Year Allowances (FYA) related to Electric Vehicle (EV) charging points.
Our Approach
The claim required due diligence with there being two different areas of the claim needing review. We needed to distinguish between the items in the property fitted by the property developer as part of the build and the fit-out expenditure by Widem UK Ltd. We conducted a comprehensive review to establish the claims’ legitimacy and gather pertinent information regarding the property’s purchase and expenditure. A site visit was arranged to help our surveyors inspect the premises, ensuring accurate identification of claimable items.
Our surveyors assessed the property’s land valuation, crucial for segregating build costs eligible for SBA. Further analysis involved categorising expenses into general pool and special rate pool for capital allowances, discerning between original build costs and fit-out expenses. We then formulated the necessary reports for the claim to be passed over to the client’s accountant for entry and submission in the 2023 tax return.
Examples of some of the embedded qualifying items that we found...
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Door entry security system
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Housing unit for integrated appliances
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Electric vehicle (EV) charging points
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Ironmongery to doors and windows
An observation from our Senior Claims Analyst, Dave Corfield...
“There were a few complexities to consider due to the property having been purchased by a property developer, as well as the usual review required to consider crucial dates to see if allowances were available for SBA, Super-deduction, etc.”
“We found the service to be excellent, and the team dealing with the claim were very helpful. Their expertise in capital allowances resulted in a great result for my client. I look forward to working with the CARS team again.”
Manoj Vanmali | Owner
Vanmali & Co Limited
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