Case study – City centre regeneration capital allowances

  • Project Type – Capital allowances on regeneration of a town centre

  • Total expenditure – £63m

  • Total plant and machinery allowances – £13m

  • Total tax saving @ 20% – £2.6m

The site of one of the UK’s largest car factories required significant regeneration following closure.  Our client developed an ambitious £1bn transformation plan including a new town centre, a further education college, a retirement village, community centre with parks and substantial housing.

We were engaged to provide specialist capital allowances advice on the elements of the development held as an investment. This included two retail superstores, an additional retail park with a dozen outlets, a hotel, two offices and a multi-storey car park. This was a complex project spanning four financial years and required detailed valuation surveys to support each year-end claim.

Out of the £63m qualifying expenditure, we identified significant levels of enhanced capital allowances within a total tax saving of £2.6m equating to over 4% of the total development expenditure.

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