SERVICES

We are able to offer a complete service offering covering compliance, transactions and planning which can be customised to suit individual client needs.

Compliance

Preparing and agreeing detailed capital allowances reports to maximise available tax reliefs
Resolving HM Revenue & Customs (HMRC) enquiries into capital allowances assessments
Enhanced Capital Allowances (ECA) reviews to accelerate tax relief
Long Life Asset reviews to mitigate expenditure potentially subject to tax relief at the lower rate
Integral Features reviews to mitigate the potential impact of the restrictive aspects of the regime whilst identifying all expenditure with a new basis of claim under the FA 2008 changes

Transactions

Pre-contract enquiries and estimates of allowances
Property acquisition and sale contract advice and negotiations
Entitlement reviews to establish that a claim can be made
Advice on grants/contributions to enable tax efficient structures to be used
Valuations and allocations of purchase consideration between land/fixtures and chattels/goodwill

Planning

Tax engineering of design
Retention of capital allowances after disposal
Acceleration of tax relief
ECA and Integral features planning
Legal opinions
Capital allowances assessments for estimating/financial modelling/value engineering purposes

SPORTS BUSINESS SECTOR

As well as general capital allowances services, we offer services tailored to the sports business sector. These are outlined below.

Unique Aspects of Sports Venues

There are some unique tax aspects to developing sports venues which require consideration from the outset of a project if businesses are to gain the maximum benefit. One of these is expenditure incurred to comply with the granting of a safety certificate under the terms of the Safety at Sports Ground Act 1975 or the Fire Safety and Safety of Places of Sport Act 1987, which can, in the right circumstances, qualify for tax relief. Particular procedures need to be followed, which, if not adhered to, could result in the loss of potential tax relief. It is possible that the level of expenditure incurred under these provisions could constitute around 15% of total construction expenditure for a stadium.

Proactive Approach

Businesses need to proactively plan to maximise relief on their expenditure and to ensure that all appropriate steps have been taken prior to including expenditure in their tax returns, in order to achieve a robust filing position to deal with potential enquires from HM Revenue & Customs (HMRC). The rule changes, together with HMRC's increasingly aggressive view on what constitutes plant and machinery and application of the legislation for safety expenditure, means it is becoming harder to maximise the available relief so forward planning becomes an essential tool.