Accounting, Audit & Tax Awards 2017

Acquisition International - Accounting, Audit & Tax Awards 2017 19 Halas & Associates Capital Allowance Review Service Best Property Capital Allowance Firm & Excellence Award for SME R&D Tax Relief - UK Capital Allowance Review Service Company: Capital Allowance Review Service Ltd Name: Chris Roberts Email: chris.roberts@ capitalallowancesonline.com Web Address: www. propertycapitalallowance.com Address: Capital Allowance Review Service Ltd, Vernon Road, Stoke on Trent, ST4 2QY Telephone: 01782 749842 HF170058 Capital Allowance Review Service is seen as a premium provider in the market place due to the experience, technical knowledge and approach to a case. We invited Chris Roberts to talk us through the firm’s services and future plans. Capital Allowances Online Group merged with Capital Allowance Review Service in 2013 to offer a Property Tax Consultancy business who can deliver strong advice to your business. As a team, Capital Allowance Review Service is strengthened by a set of multi skilled staff who have been operating for over 60 years. These include Chartered Accountants, Tax Experts, Ex-HMRC Inspectors, Surveyors and many other qualified individuals to ensure that we reach the highest level of due diligence. As such the firm has a wide range of clients, mainly comprising of companies and individuals that have spent significant capital acquiring and/ or improving commercial property. Commercial property acquisition and improvement costs incurred by a UK taxpayer anywhere in the world is eligible to claim Capital Allowances on expenditure incurred on qualifying plant and machinery. Recent clients include Lavenders Care Home, a family run care home in Kent which has been running for 35 years. In 2014 our firm was appointed to complete a full Property Capital Allowance review after many years of extensive and unclaimed improvements work. Capital Allowance Review Service analysed the property expenditure of £1,105,059 and generated of £392,850 capital allowances, producing an overall tax saving of £157,140. Due to the tax already paid by the owners they were able to claim back a tax refund in the first year to the sum of £55,762, which was an excellent result for the client. Tax relief available from Property Embedded Fixtures & Features has been around for over 100 years, yet are routinely missed as accounting procedures usually only pick up on expenditure for moveable items that are covered by an invoice. Our role is to identify and establish the full value of qualifying items that are embedded in the fabric of the property. Alongside its work recovering taxes for our clients, Capital Allowance Review Service are also dedicated to supporting our peers in the tax industry, helping them to enrich their knowledge and understanding. The firm were part of the HMRC working party that created the new legislation, with a 100% claim record to date. Moving forward Capital Allowance Review Service are keen to continue to embed our services within organisations that both advise and support the commercial property sector. or divest their companies. As such we at present are in the formation phase of starting an additional business venture to offer professional guidance and services for business owners who are considering exiting their business to either move into retirement or to contemplate other business objectives. “This new division will consider the complete range of activities a typical owner must go through when departing from their present business; placing the business on the market for sale, and complying with the accounting and other requirements of same, as well as selling the business at a respectable profit and leaving the business in a financial and management position of health and stability, in order to assure its continued growth in the future. Halas & Associates will provide valuation services and other professionals who will take part to provide accounting, and a range of required services. This new venture will be an exciting new development for our firm and we are looking forward to taking advantage of the various opportunities it will offer.” “All of the above to provide a welcome comfort level for clients during a particularly stressful period as their activity with the business comes to a close.”