Preparing Claims: Refurbishment & Fit Out
The Issue: Capital expenditure incurred on building or refurbishing property or fitting out premises is likely to attract significant amounts of tax relief. Securing the available relief takes both a knowledge of the tax legislation, building design and technology, construction costs and HMRC practices.
How we Help:
- We review the project details and confirm the different incentives that could apply.
- We engage with the design team to fully understand the project.
- We review all relevant technical, design and commercial data.
- We prepare a cost segregation analysis to identify the qualifying project costs and to allocate them to the asset categories.
- We ensure the claim is fully reconciled to supplier final accounts and the fixed asset additions in the statutory accounts for the relevant periods.
Benefit to the Client:
- Reassured: A robust and fully substantiated claim capable of withstanding enquiry from HMRC.
- Improved return on investment: Taxable profits sheltered or entitlement protected for future property owners.
- Cash from losses: Tax credits available on expenditure incurred on land remediation. Tax credits are also available on qualifying environmental plant and machinery expenditure incurred before April 2020.
Why use TFI Group?