How we claimed £13,400 in capital allowances for a Grimsby food-processing firm
Client K runs a seafood-processing business from a Grimsby industrial unit. The Ltd company had invested in processing machinery, refrigeration, packaging equipment and refrigerated vehicles, but the previous bookkeeper had simply expensed routine costs and hadn't identified the substantial capital allowances available.
We reviewed the capital expenditure. The processing and packaging machinery, refrigeration, the refrigerated vehicles 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 VAT treatment of the product range.