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Time is running out for manufacturers to claim £000s in tax relief

Carpenter Box : 05 February, 2014  (Special Report)
Manufacturers are just one of many UK businesses which often have unclaimed capital allowances, according to Sussex-based chartered accountants and tax advisers, Carpenter Box. As a result, many business owners could be owed hundreds or even thousands of pounds by the tax man.

Manufacturers could be entitled to claim tax relief for the cost of purchase, renovation or construction of their premises and its fixtures and fittings.  Central heating, electrical and other wiring, fire safety equipment and lifts are all areas where this can apply.

But time is running out for owners to claim this tax relief. Under the 2012 Finance Bill, this valuable relief will be lost forever to those who have not made the necessary claims before selling the property after April 2014.
Carpenter Box are specialists in identifying tax savings, as Chris Coopey, Head of the Manufacturing Group explains: “At Carpenter Box we have a comprehensive understanding of the tax system which allows us to maximise the tax relief for individual circumstances. Clients could enjoy a tax refund, a reduction in future liability, or both. The firm has been able to identify over £1m of expenditure that qualified for Capital Allowance tax relief in the last two years. Investigating a claim can really be worthwhile.  We can review purchase contracts to establish entitlement to claim and we can also survey premises to identify the relevant fixtures and determine their value,” added Coopey.
Many manufacturers are simply not aware of what they could be claiming for but Carpenter Box is happy to undertake a free initial consultation and assess whether or not there is a claim to be made. In addition, fees can be contingent on a successful claim being made reducing the risk to clients pursuing a potential claim.
For further information contact Carpenter Box on +44 (0) 1903 234094 or e-mail
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