Pub in Liverpool

A traditional pub in Liverpool was acquired for Β£450,000 in 2023. Our skilled team at HMA Tax uncovered Β£144,000 in unclaimed Capital Allowances.

Capital Allowance claim for a charming pub in Liverpool

The Property

In 2023, a local entrepreneur approached HMA Tax with a newly purchased pub in Liverpool. The pub, bought for Β£450,000, was a blend of traditional architecture and modern amenities.

The owner had planned substantial fit-outs and refurbishments, aiming to preserve the historic character whilst infusing fresh life into the property. However, the intricacies of s198/199 considerations and the potential for Full Expensing were areas of uncertainty.

Our Approach

HMA Tax embraced the opportunity to uncover unclaimed Capital Allowances for this distinctive property. Our team’s approach was multifaceted, concentrating on s198/199 considerations and Full Expensing.

First, we ensured that all aspects related to s198 Capital Allowances Act 2001 were handled accurately, recognising the importance of precise completion of CPSEs to avoid potential litigation risks. Our Capital Allowance specialist provided essential guidance on the implications of buying the property, focusing on Capital Allowance aspects on fixtures and fittings.

Next, we evaluated the owner’s plans for fit-out and refurbishments, identifying eligibility for Full Expensing, which would allow for 100% first-year relief on qualifying new main rate plant and machinery investments.

Through careful scrutiny, we identified Β£144,000 in unclaimed Capital Allowances, ensuring that both s198/199 considerations and Full Expensing were seamlessly integrated into the claim.

Our team coordinated closely with the owner and accountants, preparing the required documentation and liaising with HMRC to secure the tax savings.

Thanks to HMA Tax’s meticulous attention to detail and understanding of both s198/199 considerations and Full Expensing, the pub owner was able to claim Β£144,000 in unclaimed Capital Allowances. This resulted in considerable tax savings, enabling the owner to invest further in the pub’s success and contribute to the community’s vibrant social scene.