How we claimed £14,200 in capital allowances for a Basildon manufacturing firm
Client K runs a light-manufacturing and engineering business from a unit on a Basildon industrial estate. The Ltd company had invested in CNC machinery, tools, a delivery van and IT, but the previous bookkeeper had simply expensed routine costs and hadn't identified the substantial capital allowances available on the plant and equipment.
We reviewed the capital expenditure. The CNC machinery, fabrication and production equipment, tools, the commercial vehicle and IT qualified for capital allowances, with the Annual Investment Allowance and, for qualifying new plant, full expensing for companies. We claimed the allowances across the open periods, significantly reducing Corporation Tax, and reviewed the director remuneration for further efficiency.