Work highlight / 24 Jul 2017
The owner of one of London’s most prestigious office buildings engaged us to carry out a full analysis of expenditure incurred on a program of renovation and refurbishment.
The project spanned four tax years requiring us to prepare year-end claims for each period to ensure that our client took full advantage of the tax reliefs available as early as possible.
The project encompassed the stripping out to shell and included the removal of asbestos, providing an additional £180k cash flow benefit. Furthermore, we worked very closely with the design and mechanical & electrical teams to maximise the amount of expenditure qualifying as enhanced capital allowances. This resulted in over £800k of first-year allowances further improving cash flow during the construction program.
This was a challenging project with a great deal of complexity requiring us to liaise with a variety of stakeholders including internal property and finance teams and external contractors and advisors. We provided a central function ensure that information flow was maintained and all relevant parties understood the benefits of our service and the best way to achieve the desired outcomes.