Veterinary Clinic in Norwich

A thriving veterinary clinic was purchased for Β£110,000 in the picturesque city of Norwich. Our team conducted a review of the property and discovered Β£25,300 in unclaimed Capital Allowances.

Capital Allowance claim for a modern veterinary clinic in Norwich.

The Property

In 2021, the owner of a bustling veterinary clinic approached HMA Tax to conduct a comprehensive review of their property in Norwich, purchased for Β£110,000. The clinic had undergone a small facelift to enhance its facilities and accommodate the growing demand for pet care services. Despite assurances from their accountant, the owner was uncertain about the extent of claimed Capital Allowances.

Annual Investment Allowances (AIAs):

Our team ensured that the veterinary clinic owner capitalised on Annual Investment Allowances (AIAs). This strategic measure significantly reduced their tax liability, providing the opportunity to reinvest saved funds into further improving the clinic’s facilities or expanding their range of services.

Fit Outs & Refurbishments:

The clinic’s upgrades presented an excellent opportunity to capitalise on Capital Allowances. By claiming allowances on the investment in veterinary equipment and facilities, the owner benefitted from substantial tax relief. Our team examined available allowances, incorporating AIAs, Super-Deduction, WDAs, and SBAs to optimise the owner’s tax savings.

Our Approach

Our team meticulously examined the renovation and upgrade expenses, uncovering Β£25,300 in unclaimed Capital Allowances, representing a significant 23% of the property’s purchase price.

Utilising our knowledge of Capital Allowances, we compiled a detailed report outlining eligible assets and their corresponding values for potential claims. Collaborating closely with the clinic owner’s accountants, we ensured the tax savings were maximised through effective communication with HMRC.

Thanks to the specialised expertise of HMA Tax, the veterinary clinic owner secured substantial tax savings by claiming Β£25,300 in unclaimed allowances. The resulting tax relief amounted to Β£5,060.