Our aim is to find a clear path through the process to maximise benefits to clients.
Did you know that when you acquire a building, a significant part of the purchase price could be eligible for tax relief via the capital allowances legislation? It is not unusual for us to find that up to 40% could qualify for this relief.
What we do
Within CBRE we have a team of capital allowances specialists who have property, Quantity Surveying and tax backgrounds and we have extensive experience of providing advice to Retail clients during the acquisition and disposal process. We specialise in undertaking fully disclosed and detailed capital allowances reports that can be submitted to Her Majesty’s Revenue & Customs (HMRC), to support your claim for capital allowances purposes and we have an exemplary track record in agreeing claims with HMRC, without having to reduce the level of qualifying expenditure.
How you benefit
Many retailers rely on in- and out-of-house accountants to identify their capital allowances. Following the traditional approach, the Accountant is brought in once the property has been acquired to make an accurate assessment of what elements qualify for capital allowances purposes.
Without the necessary property expertise, they can often struggle to produce accurate cost estimates for buildings and they rely on market comparables when trying to identify the cost of land. This approach can often lead to safe/conservative claim values.
As specialists with expertise in property and tax, we become an integral part of your due diligence team, and we ensure that your capital allowances position is maximised when you are acquiring and it is protected when you are disposing of your property assets.
Our expertise in building costs and land values enables us to secure much higher claims than those of our competitors and we deal directly with HMRC to agree the claim on your behalf.
In this note, we set out the key issues which Brexit is already raising for retailers. Migration controls and currency movements may mean workers are less ready to work in the UK retail industry, which may increase time and cost. Currency devaluation will also generate more general cost inflation, though not everyone is a loser from these effects, and cost increases may spur yet more innovation in an already dynamic sector. The good news is that this year isn’t all about Brexit. The bad news is there are other more pressing concerns in 2017, with the rating revaluation and apprenticeship levy among the factors which retailers will have to grapple with. As always in retail, the winners will be the most agile and forward-thinking.
• CBRE’s 2017 Outlook report provides a comprehensive overview of the key trends affecting UK property markets in 2017. Alongside core sections covering the economic, political and investment outlook there is coverage of every major investment and occupier sector.
• There is an improved global economic outlook, but inflation is now a more significant risk than previously. There is less concern about emerging markets.
• UK GDP growth is expected to slow to 1.4% in 2017 due mainly to Brexit-related uncertainty and a tighter labour market.
• The Brexit process will mean a very uncertain 2017, with some volatility in markets expected even if the underlying economy is performing well – not least when Article 50 is served.
• 2016 investment volumes likely to be 30% down on a very strong 2015, with 2017 slightly weaker than 2016.