Office in Birmingham

An office complex was purchased for Β£12m in 2020. Our team conducted a comprehensive review of the property and discovered Β£3.2m in unclaimed Capital Allowances.

Capital Allowance claim for a large office building in Birmingham

The Property

In 2022, an commercial property investor approached HMA Tax with a office complex. The owner had bought an site for Β£12m in 2020, which required extensive renovations to modernise the facilities.

The renovations had been completed over a period of two years, and the owner had been advised by their accountant that they had claimed the costs. However, the owner was unsure if all the Capital Allowances available had been claimed.

Our Approach

HMA Tax took on the challenge of identifying any unclaimed Capital Allowances available to the industrial site owner. Our team conducted a detailed review of the costs incurred during the renovations and identified that a significant amount of the capital allowances available had not been claimed.

Our team used their extensive knowledge of Capital Allowances to identify Β£3.2m of unclaimed capital allowances, which were available to the owner. We provided a detailed report highlighting our findings, which included a list of assets that qualified for capital allowances, and the values that could be claimed.

Once we had identified the unclaimed capital allowances, we worked closely with the owner’s accountants to ensure the tax savings were maximised. Our team provided support throughout the process, from preparing the necessary documentation to liaising with HMRC to secure the tax savings.

Thanks to HMA Tax’s expertise, the industrial site owner was able to secure significant tax savings through the identified capital allowances. The owner was able to claim Β£3.2m in unclaimed capital allowances, resulting in a tax saving of over Β£600,000.