Education
Private Nurseries – additional allowances of £5,365,000
This project consisted of the retrospective analysis of a portfolio of 20+ nurseries. The nursery business was a new venture for an existing private school. Consequently, in the early years the nursery business was loss-making and had not claimed capital allowances within the construction expenditure it had incurred. Construction expenditure of approximately £14,500,000 had been incurred and no capital allowances had been claimed.
Our work consisted of obtaining project cost information from a mixture of sources – project Quantity Surveyors, Architects and Contractors and preparing a detailed analysis of each project to support a retrospective (late) claim for capital allowances.
Our work resulted in the identification of £5,365,000 of plant & machinery allowances.
Our work produced an overall tax saving for a 23% taxpayer of £1,233,950.
Private Schools – additional allowances of £6,450,000
This project consisted of the purchase of a number of private Grammar Schools by a private company providing education services at a historic cost of approximately £23,000,000.
The schools were largely acquired from Local Authorities and Charitable Trusts, neither of which had been able to claim capital allowances.
Our work started many years after the portfolio had been acquired and whilst significant levels of capital allowances were being claimed by the company in respect of its post-acquisition improvements, we determined that no claims had been made in respect of any of the properties that had been purchased.
Our work resulted in the identification of £6,450,000 of plant & machinery allowances.
Our work produced an overall tax saving for a 23% taxpayer of £1,483,500.