Free Cash, Tax Savings & Capital Allowances for SMEs Going Green

By : Julie Davies October 18, 2016 Comments Off

‘Free’ £10,000 and extra tax savings for SMEs investing in green technologies

In the current economic climate, a significant external pressure on UK businesses is to reduce their “carbon footprint”. While implementation of new processes and sustainable equipment may be easier for large organisations with bigger budgets, Small and Medium Sized Enterprises (SMEs) may struggle […]

Capital Allowances & Data Centres

By : Julie Davies July 25, 2016 Comments Off

Substantial capital allowances are available on the construction of data centres. Up to 90% of expenditure on new build date centres, or higher, can potentially qualify for capital allowances. The reason for this high level of allowances is that the buildings are normally quite simple enclosures containing vast amounts of mechanical and electrical plant.

Types of […]

Enterprise Zones & Capital Allowances

By : Julie Davies December 9, 2015 Comments Off

Enterprise Zones were reintroduced in 2012 to encourage economic growth and investment.

Businesses basing themselves on Enterprise Zones can access a number of benefits:

Up to 100% business rate discount worth up to £275,000 per business over a 5 year period

Simplified local authority planning

Government support to ensure that superfast broadband is rolled out throughout the zone, and, […]

Capital Allowances within Private Member Clubs

By : Julie Davies November 11, 2015 Comments Off

There is substantial worth of tax allowances within private member clubs. Significant savings can be achieved by considering capital allowances at an early stage. In-house accountants and tax advisors will be able to identify the apparent qualifying items of plant and machinery (P&M), such as furniture, kitchen equipment etc. When fitting out or refurbishing a […]

Capital Allowances within Restaurants

By : Julie Davies October 7, 2015 Comments Off

Restaurant owners are often overlooking substantial tax allowances. This happens because their accountants and tax advisors may only pick up simple & obvious plant and machinery (P&M) items, i.e. chairs, tables, crockery etc. When fitting out or refurbishing a restaurant, the construction expenditure is generally not very well detailed for capital allowances, therefore not easily […]

Capital Allowances within Nursing Homes

By : Julie Davies September 30, 2015 Comments Off

Introduction

Nursing homes have substantial imbedded plant and machinery (P&M) items and repairs. However the less obvious items often get overlooked by accountants and tax advisors.

Why does this happen?

There are many obvious items of plant such as loose furniture and fittings which accountants can easily identify and segregate to allowances. However there are additional imbedded trade […]

Real Estate Investment Trusts: Get The REIT Advice on Capital Allowances

By : Julie Davies September 23, 2015 Comments Off

Capital allowances may be claimed in a variety of trades and entities. Often overlooked due to its tax status, there is a genuine interaction between REITS and capital allowances as explained below.

Background

Real Estate Investment Trusts (REITS) are tax efficient property investment companies. They were first introduced to the UK in 2007.

The main benefit of having […]

Recent Capital Allowances Case Study

By : Julie Davies March 11, 2015 Comments Off

Client purchases offices for £10m and spends £16m on refurbishment

Claim made for Enhanced Capital Allowances (ECA) of £0.5m – qualifies for 100% first year allowances. This flows through to a £0.1m tax saving

HMRC query the eligibility of the light fittings claimed as ECAs

Lovell Consulting involvement:

Additional £3m allowances identified on plant installed within the property as […]