Refurbishment of Picadilly Lights

“We were pleased to have the trusted support of E³ on what was a large-scale and important project for Landsec, the Lights and our London community.”

Martin Worthington, Tax Director, Land Sec

E³ Consulting was appointed, by this longstanding client, to undertake the capital allowances analysis of the £10.1m refurbishment of Piccadilly Lights, the iconic advertising screens at London’s Piccadilly Circus. The upgrade involved replacement the original patchwork of LED screens with a single state-of-the-art 4K LED screen. The upgraded screen included a live technology hub which allowed it to react to certain external factors, such as the weather or temperature and enabled brands to display creative and innovative content.

E³ Consulting’s specialist surveyor carried out a site survey and identified nearly 85% of the expenditure as eligible for tax relief through capital allowances.

Property tax relief identified:

■          Plant and machinery allowances of approx. £7.8m

■          Integral features allowances above £710,000

■          Repairs & Maintenance of £49,000

■          TOTAL TAX SAVINGS APPROX. £3.2m