In this month’s Insider Ireland’s Business Matters, senior consultant Phil O’Connor highlights the tax breaks that are available for the majority of fit-out expenditure, which many occupiers of property are unaware of. Phil explains that Wear and Tear Allowances and Accelerated Capital Allowances are available for plant and machinery expenditure, and spend on energy efficient … ContinueRead more
As one of the most experienced fiscal incentive specialists in the UK, we have helped generate in excess of £1bn of additional tax savings on behalf of our clients.
Here we provide case studies of some of our most prestigious and high-value engagements and present insightful analysis and commentary across a variety of topics.
Case study – Historical review of enhanced capital allowances
Review and analysis of data centre operator's historical capital allowances. Total expenditure: £27m Total plant and machinery allowances - £23.2m Total tax saving @ 20%: £4.64m
Director Aubrey Calderwood has featured in Taxation magazine, where he discusses the recent Office of Tax Simplification consultation that concluded the capital allowances regime should be reformed rather than replaced by accounts depreciation. He says: “The OTS report on whether accounting depreciation or capital allowances should be the method for giving tax relief for tangible … ContinueRead more
Senior consultant Philip O’Connor writes in Insider Ireland’s Business Matters that in addition to positive market conditions, capital allowances in Dublin and Belfast are creating a strong hotel market that has led to numerous completed developments, with many more currently at planning and construction stages. He explains that positive market conditions in both cities, such … ContinueRead more
Appearing in Insider Ireland, senior consultant Stacey Ferguson outlines why seeing a capital allowances specialist from the beginning of a commercial property transaction is imperative to making sure you don’t miss out on valuable claims. Stacey explains: “It is imperative that appropriate action is taken at the earliest stages of a commercial property transaction to avoid … ContinueRead more
In this final instalment of our four-part series, we turn to Advance Assurance, which was introduced in 2016 to provide SMEs with the opportunity to guarantee the first three R&D claims they made if “they are in line with what was agreed during the process.” The intention of the scheme was to try and reduce … ContinueRead more
There are two elements that make up a successful and robust claim: a technical narrative and detailed financial calculations. The purpose of which is to demonstrate to HMRC that the project undertaken meets the definition of R&D and includes qualifying costs with supporting evidence. Technical narrative The technical narrative should be written with input from … ContinueRead more
For a project to qualify as R&D it must meet HMRC’s criteria which states that, “a project must constitute an advance in science or technology that’s defined as an improvement in overall knowledge and capability through resolving scientific or technological uncertainty.” How does that definition help a business confidently assert if a project qualifies? Consider … ContinueRead more
Research and Development (R&D), is an activity that up until a few years ago most people would think belongs in a lab, carried out by scientists in white coats. No longer is that the case; more people are beginning to understand that R&D refers to the incremental and continual improvements made to all manner of … ContinueRead more
Accounting depreciation v capital allowances – the results of the Office of Tax Simplification findings
The Office of Tax Simplification (OTS) has published its conclusions on whether the UK should adopt a system of accounting depreciation to simplify the granting of tax relief for tangible fixed asset investment. Should we be sticking with the devil everyone knows – capital allowances? Here, our director Aubrey Calderwood sets out the OTS findings … ContinueRead more
In this month’s Insider Ireland’s Business Matters, senior consultant Phil O’Connor outlines that property owners – and even tenants – that are spending on the refurbishment of properties could be eligible for some valuable tax relief. Phil explains that refurbishment projects which are undertaken at properties that are in use, or are capable of use, … ContinueRead more