Capital allowances

Each year millions of pounds of tax allowances and reliefs go unclaimed.

Tax issues are often overlooked or considered at a late stage in property transactions, but when the full suite of options for tax allowances are used proactively they can secure significant savings from acquisitions, disposals, developments and brown field remediations.

For many tax is a consequence, rather than a strategy. Working alongside our clients to deeply understand their circumstances we leverage tax reliefs to positively shape property strategies; maximising your potential, opportunities and savings across property transactions and developments.

We understand that commercial business drivers will always dominate property development and investment, but if tax allowances and reliefs are used strategically they can significantly enhance returns. Our experience means that we know where to introduce and implement tax allowance strategies for maximum effect.

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Construction claim assessment

Capital Allowances is a technical and specialist activity that requires an optimal blend of knowledge, experience, and attitude.

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Our services are provided by senior advisers that have performed at the highest level across a variety of service platforms. Accounting, surveying and property consultancy experience blends together a considered and mature approach to claim solutions. We assume a thorough approach is required in all client requests but wherever possible we adopt simple, clear and disclosed services.

We believe capital allowances are an essential aspect in any project armoury and an invaluable value engineering tool. The inclusion of capital allowances estimates to project viability, feasibility, and financial modelling studies is paramount to enable our clients to fully consider project scope and returns. Maximising capital allowances then becomes an intrinsic project element, providing confidence to clients, and all stakeholders and interested parties.

Having a range of understanding through plant and machinery allowances, general plant, integral features, super deductions and first year allowances, structure and buildings allowances, contributions, grants, repairs, etc requires a holistic experienced approach to evaluate the best approach required.

Strategic acquisition advice

Our consultants have 20 plus years of advising on large and complex transactions through proactive planning and negotiation.

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Best practice and a high level of understanding underpin capital allowances transaction strategies, whether in selling or buying scenarios. Adopting a bespoke forward-thinking strategy establishes a competitive advantage over the opposing transacting parties, and in this respect capital allowances is no different to client investment and negotiation advice. A little proactive planning using foresight and judgement goes a long way to providing knowledgeable and maximised tax outcomes.

The building fixtures environment has evolved many times over the last 20-30 years, with finally, in the last 5 years at least, HMRC achieving a greater level of control and transparency. Significant opportunities remain however, for both sellers and buyers through an understanding of seller structure and positioning, protection and creative use of allowances both unidentified or identified, or knowing the right information required at the right time out with the standard CPSE enquiries. The key to success is in engaging the right expert early.

Sectorising allowances

All industry sectors are unique but require a tailored and transferable approach of core disciplines.

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Our cross trained senior surveying and tax experts have a unique set of skills which are required to assess, evaluate, review and document optimised capital allowances claims for our clients. We believe that core capabilities are essential to maximise savings in all industry sectors including offices, hotels and leisure, healthcare, manufacturing and so on. Whilst some industries require a more truly specialised approach such as the water industry or previously sports stadia and grounds (safety at work), we are also firm advocates of establishing expert knowledge in our client sectors.

Years of experience in listening to our clients business ideas and aspirations has taught us where best to place our focus in building strategies to increase allowances and savings. Existing building alterations may throw up a high degree of incidental assets, hotel projects will include a significant amount of embellishments and finishes, and healthcare builds will contain a high incidence of protective and clean assets. We listen, we learn, and we understand to how best develop our services to serve our individual clients.

Land remediation relief

An extremely rewarding tax relief that necessitates a highly specialised level of qualitative due diligence.

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Capital allowances advice requires a good degree of technical due diligence and entitlement considerations, and a high focus on analytical cost skills. However, the extremely valuable land remediation relief requires an opposing approach. To secure this relief It is fundamentally important to carry out a thorough understanding and review of all relevant client, transaction, property, environmental considerations, remediation strategy, and relevant costs to advise clients property. Failure to do so could be very costly.

A full review of this tax relief by HMRC several years back resulted in higher levels of legislative entitlement to focus the financial benefit where previously intended. Robust due diligence is key and must be enacted with the both the client’s and project consultant’s assistance to enable full disclosure of all relevant case facts. Our consultants are highly motivated to ensuring all client’s take advantage of this valuable project saving but with the correct, detailed approach.

Key capital allowances contacts

Avison Young strengthens economics capabilities

Avison Young strengthens economics capabilities January 13, 2022

Team expansion follows success of securing over one billion pounds of public sector funding for clients over the last two years.

Avison Young today announced the hiring of Dr Stephen Rosevear (Director), Patrick Ransom (Associate Director), Louisa Guyon (Associate) and Victoria Smyth (Consultant), all formerly of Hatch Consulting, to expand the company’s economics capabilities.

The team will sit within the national regeneration team, led by Nicola Rigby and Martyn Saunders, providing an additional level of economic expertise to the existing teams based in Manchester and London. This builds on the growth of the team last year to include two new graduates – Aba Shokunbi and Aaron Leadbeater, and the promotion of Georgina Iliff in January 2022 to Consultant.

By bringing in this expanded offer the team is able to deliver unrivalled expertise in securing public investment, addressing socio-economic challenges, and securing the buy-in, support and permissions needed for investment propositions.

The combined team has successfully secured over a billion pounds of public sector funding for clients over the last two years. This has included major infrastructure projects, housing initiatives and town centre and COVID-19 recovery strategies.

The new team has also been involved in some nationally significant projects including Freeports, the Housing Infrastructure Fund and Heritage Action Zones, as well supporting cities and towns through various funding, delivery and strategy programmes.

Drawing on 25 years of experience as an economist and strategic adviser in area-based regeneration, Dr Stephen Rosevear will lead the new offer. He has recently advised on three separate Freeport propositions and developed new university proposals in Herefordshire, Peterborough and South Essex.

Stephen is joined by Patrick Ransom, who is an experienced economic development and regeneration specialist. He has worked across both the private and public sector and has recently developed economic strategies and placed-based propositions for Dereham, Streatham, Watford, Oxford, Swaffham, South Norwood and Watton.

Stephen and Patrick will be supported by Louisa Guyon and Victoria Smyth. Both have a strong understanding of HM Treasury’s Green Book and its practical application to the development and appraisal of business cases across a broad range of subjects. They have recently collectively supported several local authorities to prepare Town Investment Plans and Future High Street Fund Applications, including in Milton Keynes, Cleator Moor and Millom, Tottenham, Newton Abbot and Grantham.

Stephen said: “We believe that our collective capabilities will add value to Avison Young’s existing client base and support the continued growth of the business. Equally important, we want to help our clients deliver better outcomes for communities across the UK. Our cutting-edge appraisal, evaluation, research and modelling techniques, alongside our practical understanding of strategy and delivery, will provide the insights that clients need to make evidence-led decisions, to develop compelling funding applications, write robust business cases, create meaningful economic development and social value strategies and articulate the economic impacts of their investments”.

Martyn Saunders, Principal, Planning, Development and Regeneration, added “Having merged the Manchester and London regeneration teams in 2021 to support the growth of our public and private sector advice nationally, we are delighted to see further expansion with Stephen and the team joining us. There is no doubt that a robust economic basis for intervention and funding strategy is a core requirement of all the multi-disciplinary advice we give – which is becoming even more apparent with an increasing emphasis on levelling up, shared prosperity and net zero. We are incredibly pleased to have secured a team with such talent and expertise”.

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