Office in Manchester

An office building was purchased for £5.4m in Manchester in 2021. Our team at HMA Tax conducted an exhaustive review of the property and discovered £1.89m in unclaimed Capital Allowances.

Capital Allowance claim for a contemporary office building in Manchester

The Property

In 2021, a commercial property investor approached HMA Tax with an office complex in Manchester. The investor had bought the site for £5.4m, which included a combination of traditional office spaces and modern co-working areas.

The building had undergone renovations over the previous year, and the owner had been advised that they had claimed the necessary costs. Despite this assurance, the owner was uncertain 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 office 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 £1.89m 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 office owner was able to secure significant tax savings through the identified capital allowances. The owner was able to claim £1.89m in unclaimed capital allowances, resulting in a tax saving of over £400,000.

This case study exemplifies HMA Tax’s commitment to providing specialised and effective Capital Allowance solutions. By identifying and claiming unutilised Capital Allowances, we continue to support commercial property owners across the UK in maximising their tax savings.