How we claimed £12,400 in capital allowances for a Kilmarnock engineering firm
Client K runs an engineering and metal-fabrication business from a Kilmarnock industrial unit. The Ltd company had invested in CNC machinery, fabrication equipment and a delivery vehicle, but the previous bookkeeper had simply expensed routine costs and hadn't identified the substantial capital allowances available, nor optimised the director remuneration against the Scottish bands.
We reviewed the capital expenditure. The CNC machinery, fabrication 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 restructured the director remuneration tuned to the Scottish income tax bands.