Capital allowances claim on a £13m purchase of a refurbished, multi tenanted office in Edinburgh

Evaluate

Our existing private client, a Channel Islands bases non-resident landlord, purchased this 48,500 sq ft Grade A office space, shortly after a developer had extensively refurbished it. With entrance lobby leading onto open plan office space, welfare facilities and meeting, storage and plant rooms, with stunning atrium and feature bridges, providing access to the upper floors.

Evolve 

E³ Consulting undertook a comprehensive site survey and analysed the purchase claim including the earlier refurbishment where the project costs had reverted to the landlord upon acquisition as the developer had not been entitled to claim.

E³ Consulting identified a range of eligible expenditure, including lifts, air conditioning, building management control systems and frost protection road heating systems; with the overall result of significant income tax savings for our client.

Enhance

 Tax relief identified at over 30% of the purchase price:

• Plant and machinery allowances circa £1,000,000
• Integral features expenditure over £3,000,000

Testimonial

Property Advisor to Client:

“A great job by E3 and a ‘no brainer’ for the client.  The capital allowances identified saved over £200,000 in potential tax liabilities.”