Nursery in Glasgow
A nursery facility was acquired for £850,000 in Glasgow in 2021. Our team performed an review and analysis of the property, revealing £297,500 in unclaimed Capital Allowances.
Capital Allowance claim for a vibrant nursery in Glasgow
In early 2022, a commercial property owner contacted HMA Tax with a newly acquired nursery in Glasgow. They had purchased the site for £850,000 in 2021, and it needed some refurbishment to enhance safety measures and educational facilities.
Though the owner’s accountant had assured that all costs were claimed, the owner had doubts regarding the full capture of Capital Allowances and decided to approach us for a comprehensive assessment.
Our Approach
HMA Tax accepted the task of pinpointing any unclaimed Capital Allowances available to the nursery owner. Our team embarked on a thorough review of the costs associated with the refurbishments and discovered that a significant portion of the available capital allowances had not been claimed.
With our in-depth knowledge of Capital Allowances, we identified £297,500 of unclaimed capital allowances, accessible to the owner. We crafted a detailed report, spotlighting our findings, which encompassed a register of assets eligible for capital allowances and the claimable values.
Upon identifying the unclaimed capital allowances, we engaged closely with the owner’s accountants to optimize the tax savings. Our team provided continual support during the process, from the preparation of essential documentation to communication with HMRC to secure the tax benefits.
Thanks to HMA Tax’s expertise, the nursery owner successfully claimed £297,500 in unclaimed capital allowances, translating into a tax saving of over £59,500.
This example underscores HMA Tax’s dedication to offering tailored solutions that enable commercial property owners throughout the UK to fully leverage their investments, securing substantial tax savings.