Restaurant in Liverpool

A restaurant was acquired in Liverpool for Β£900,000 in 2021. HMA Tax carried out a meticulous review of the property and identified Β£288,000 in unclaimed Capital Allowances.

Capital Allowance claim for a contemporary restaurant in Liverpool

The Property

In 2021, a successful restaurateur approached HMA Tax with a newly acquired restaurant located in the heart of Liverpool. The property was bought for Β£900,000 and had recently undergone refurbishments to provide a modern dining experience.

Though satisfied with the work done, the owner was unsure if all the Capital Allowances available had been claimed, and therefore sought our expertise.

Our Approach

The challenge of determining any unclaimed Capital Allowances was eagerly accepted by HMA Tax’s professional team. We conducted an in-depth analysis of the costs incurred during the refurbishments and discovered that a significant portion of the capital allowances available had not been claimed.

Our team’s extensive knowledge of Capital Allowances allowed us to identify Β£288,000 of unclaimed capital allowances that were readily available to the owner. We compiled a detailed report, outlining our discoveries, including a specific list of assets that qualified for capital allowances, along with the values that could be claimed.

Upon determining the unclaimed capital allowances, we engaged closely with the owner’s accountants to make sure that the tax savings were optimised. Our support ranged from the assembly of necessary documents to direct communication with HMRC to secure the tax benefits.

Thanks to the specialisation and dedication of HMA Tax, the restaurant owner was able to secure a claim of Β£288,000 in unclaimed capital allowances, resulting in a substantial tax saving of over Β£55,000.

HMA Tax continues to stand as a beacon of expertise in the field of Capital Allowances, providing tailored solutions that allow commercial property owners across the UK to realise their full investment potential and achieve significant tax savings.