Office Space in Sheffield
An office complex was purchased for £750,000 in 2021. Our team conducted a comprehensive review of the property and discovered £195,000 in unclaimed Capital Allowances.
Capital Allowance claim for an Office in Sheffield
In the city of Sheffield, a business owner acquired an office space, purchased for £750,000 in 2021. The office owner partnered with HMA Tax to explore available tax benefits, ensuring a sound investment and a strengthened financial position.
Annual Investment Allowances (AIAs):
Leveraging the AIAs, we ensured the office owner could claim a substantial portion of their qualifying expenditures, reducing their tax liability and fostering further business investment.
Our Approach
Recognising the diverse assets typical to office spaces, our tax advisors conducted a comprehensive review of the property’s capital expenditures. The analysis uncovered £195,000 in unclaimed allowances, encompassing office fixtures, technological infrastructure, and other qualifying assets. Collaborating seamlessly with the office’s accountants, we ensured a smooth integration of these allowances into their financial strategy.
Thanks to HMA Tax’s expertise, the office owner successfully claimed £195,000 in unclaimed Capital Allowances. This translated to a significant tax saving of over £39,000. Beyond the financial gains, the office capitalised on the additional funds by reinvesting in technology, creating a more efficient workspace.