Retail Parade – Stockport
Our initial involvement with this case was in a commercial agency capacity with a number of lettings having taken place at the subject property on behalf of a local property investor who had purchased the retail parade in 2009.
In discussions with the owner, it became apparent that no capital allowances claim had been made since the purchase some years ago. Following completion of our work, approx. ÂŁ150,000 of capital allowances were identified. At a corporation tax rate of 20%, this translated to a tax saving of approx. ÂŁ30,000.
Head of Capital Allowances,commented, ‘It became apparent following our survey that some of the tenants had spent money on fitting out the premises and as a result the capital expenditure for these items were claimable by the tenant and not the landlord.’
Please contact our Capital Allowances team for information and advice.