A client who has an Electrical Wholesale business visited our office in St Helens today. They have three sites in Warrington, Chorley and North Wales.
It came out in conversation that they had spent a large amount of money on fitting out these warehouses with racking, building offices, creating mezzanine floors, putting toilets in etc. Their previous accountant had never mentioned anything about claiming tax relief on this expenditure and had just booked it as “Capital Improvements” in the accounts.
So they were delighted when I explained the concept of “Integrated Capital Allowances” to them. I’ve arranged to go and visit the sites to work out what work expenditure will qualify for Capital Allowances and then put together a claim.
From what I can gather there could be £30,000 of expenditure that has not been claimed, so that’ll be a good piece of work for me and a sizeable saving for them!