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Case Studies

Restaurant – Capital Allowances of £122,500

A thriving bar and restaurant in Sussex bought in 2005. The property had been extensively refurbished, but the previous owners had not claimed their full capital allowance entitlement.

Taking advantage of capital allowances tax legislation means restaurants can usually claim tax relief on fittings such as cookers, dishwashers, refrigerators, washbasins, sanitaryware, fire and burglar alarms and even decorations such as pictures (these pass the setting vs function test in the context of a restaurant).

The restaurant was bought for £550,000 (excluding goodwill) and £122,500 worth of capital allowances had been identified. The owner payed income tax at the 40% rate, and an income tax saving over time totaling £117,000 was achieved. There was an initial income tax reduction of £17,640 .

Care home – capital allowances of £211,000

A large converted property, our client spent a considerable sum refurbishing this care home since the 1980s, and recently bought out his business partners.  It currently has 22 rooms as well as communal sitting and dining areas, kitchen, laundry etc.

The property was purchased at a cost of £750,000. When the work was completed £211,000 of capital allowances had been identified providing a long term tax saving of £84,400!  There was an initial income tax saving of £30,300 to the owner.  A very satisfied customer.

WE CAN SAVE YOU TENS OF THOUSANDS IN TAX RECLAIMS AND FUTURE SAVINGS.

CALL US TODAY ON 020 3291 1943


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