Our client is a well-known brand of shoes with a chain of stores across the UK. They spend over £100,000 per store on a recurring basis. They approached our capital allowances team to review the fit out works at one store to maximise the tax relief available to them.
What RSM did
We start each review in the same way, by visiting and understanding the specific attributes of each development. Although there are always similarities, no two developments are the same. Being on site, with first-hand experience and understanding of the development, our team can identify and maximise the relief available.
Knowing how to interpret the legislation around capital allowances is essential when bringing together our detailed reports. This can bring to life what is happening on site, to the claims submitted to HMRC. We identified £70,000 of capital allowance expenditure, saving our client £14,000 of tax. Although this may sound small, this was on a total spend of only £100,000 and RSM are now reviewing the fit out works for other stores within their portfolio.Click here to download a printable version.