Information
Join us for a talk from David Davies, Senior Consultant at Catax, on Capital Allowance claims.
Please note as ICB qualifications do not provide a member with the competence to give advice on Capital Allowances to this level, knowing of independent providers who you can direct your clients to increases the offering you can provide your client.
As you are aware, Capital Allowance claims are a straightforward concept; identify the items of plant and machinery that are embedded in the fabric of a commercial building and attach a value and submit the claim against your tax liability. Like everything that seems to be too good to be true it isn’t quite that simple:
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Title must be established
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Owning entity status
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Previous claims history
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Type of building
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Use of building
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Purchase date
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Retrospective survey
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Identification of plant and machinery
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Allocation of values
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Application of HMRC formulae and algorithms
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Create detailed report for submission to HMRC
So, as you can see there is a lot more to it than plucking a figure from thin air. As they say, the devil is in the detail – Catax are the devils that find the detail!
We establish at a very early stage through our due diligence enquiries as to whether we can identify a viable claim for our clients. If this is the case, we start to always gather appropriate information whilst trying to cause as little disruption to our clients as possible, after all they are busy people. Under normal circumstances the process takes some 12 to 14 weeks end to end.
We look forward to seeing you all there.
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