Constructing an Asset
Capture, categorise and reconcile the expenditure while the project knowledge is still available.
We work with developers, contractors, cost consultants and tax advisers during construction to identify qualifying expenditure, monitor design and cost changes, and maintain the information needed for an efficient and robust claim.
Building capital allowances into construction cost reporting
Construction generates the detailed cost and technical information needed for a robust capital allowances claim. But once work packages are closed and project teams move on, that information can become difficult and time-consuming to recover.
Where expenditure spans multiple financial years, payments must also be tracked against the underlying works, correctly categorised for tax purposes and reconciled with the financial ledgers. Reviewing this information during delivery helps prevent qualifying expenditure from being overlooked, resolve pricing or information gaps to make the eventual claim better optimised and supported.
The Challenge - Controlling complex project information
Construction expenditure is rarely captured in a form that translates neatly into a capital allowances claim. Costs may be spread across multiple packages, payment periods and financial ledgers, while variations, provisional sums and design changes can obscure the nature and value of the underlying works. Where detailed pricing is unavailable, potentially qualifying expenditure can easily be overlooked.
The Approach - Reviewing expenditure during delivery
We work with the project and finance teams to review cost reports, valuations, specifications and change information as the works progress. Expenditure is reconciled with the financial ledgers, analysed by tax treatment and tracked across the relevant accounting periods. Where the records lack sufficient detail, our chartered quantity surveying expertise enables us to analyse the works and prepare robust, evidence-based estimates. Where required, we prepare interim claims during construction, followed by the final claim on completion.
Project Team Benefit - Clearer cost and tax reporting
The project team gains a practical framework for capturing the information needed for capital allowances alongside existing cost reporting processes. Questions and information gaps can be addressed while the relevant knowledge remains available, reducing disruptive retrospective enquiries and producing clearer reporting for the client, finance team and tax adviser
Client Benefit - Claims ready for your tax adviser or accountant to file
The claimant gains earlier access to available tax relief through interim claims where appropriate, followed by a fully reconciled final claim. We are qualified taxation professionals and are used to working alongside existing tax teams. Our capital allowances reports provide the existing tax adviser with the calculations, supporting analysis and claim documentation needed for filing, requiring minimal additional input.
Recent construction projects
Some examples of projects that involved on-site engagement and delivery of robust capital allowances reports for existing tax advisory teams to file with minimal additional effort.
Capture the tax value while the project knowledge is still available
Whether you are developing, costing or delivering a live project, we can work alongside your construction, finance and tax teams to analyse expenditure, address information gaps and prepare well-supported interim and final claims for your existing tax adviser or accountant to file.