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
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
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
In this final instalment of our four-part series, we share our tips on how to protect your capital allowances. How do you protect your capital allowances position? In last week’s blog we demonstrated that without fully investigating a property acquisition, a potentially significant cash benefit could be missed and remain, with the legislation as it … ContinueRead more
Stimulating growth in the Northern Ireland economy – investors shouldn’t overlook existing tax incentives
Director Aubrey Calderwood writes in Insider Ireland’s Business Matters, that those contemplating investing in Northern Ireland should not overlook the tax reliefs that already exist in the country. Aubrey outlines that with Northern Ireland having the slowest growing economy in the UK, with one per cent growth so far this year, a non-functioning devolved Assembly, … ContinueRead more
In the first instalment of our four-part series, we outlined why commercial property investors must incorporate all available tax reliefs from the beginning of a purchase in order to unlock the maximum value of a transaction. In this blog we put the theory into practice to highlight why this is so important. Why due diligence … ContinueRead more
The HoT is a document that sets out the terms of negotiation at the start of a property transaction. A commercial property agent working on behalf of the seller will usually prepare this, which covers various details about the property, including the tax considerations of which capital allowances are a part. This document will generally … ContinueRead more
The importance of capital allowances can sometimes be overlooked, particularly when set against the more pressing business of getting a deal over the line. However, it is possible for property investors to work on a transaction while at the same time considering the potential value of capital allowances, without losing sight of the end goal. … ContinueRead more