Factory in Bradford
A factory in Bradford was purchased for £2.5m in 2022. Our team conducted a comprehensive review of the property and discovered £375,000 in unclaimed Capital Allowances.
Capital Allowance claim for an Factory in Bradford
In 2022, the owner of a factory in Bradford enlisted HMA Tax’s expertise to uncover potential tax benefits within their property. Acquired for £2.5 million, the factory played a pivotal role in supporting local industry and driving economic growth in the Bradford region.
Annual Investment Allowances (AIAs):
Leveraging AIAs, we maximised the deduction available for machinery and production equipment, reducing the factory owner’s tax liability and fostering further business investment.
Our Approach
Understanding the distinctive assets associated with industrial facilities, our proficient tax advisors conducted a review of the property’s capital expenditures.
The analysis unveiled £375,000 in unclaimed allowances, precisely 15% of the purchase price. These allowances covered essential machinery, production equipment, and other qualifying assets. Collaborating with the factory’s management and accountants, we ensured a smooth integration of these allowances into their financial strategy.
Thanks to HMA Tax’s expertise, the factory owner successfully claimed £375,000 in unclaimed Capital Allowances. This translated to a substantial tax saving of £75,000, providing a significant financial boost for the factory. The savings will be directed towards upgrading machinery, improving production efficiency, and sustaining the factory’s position as an industrial leader in Bradford.