Case Study
York Hotel Conversion
Claim results
|
Years of spend
|
2008 & 2009
|
|
Refurbishment cost
|
£8m
|
|
Capital allowances identified
|
£5m
|
About the claim
Our client was a ltd company that had acquired an office building in York and then converted the property into a hotel.
The expenditure had been incurred over two years and we were brought in to analyse their costs.
Our approach
We were engaged shortly after the work completed and provided an estimate of the likely allowances, but both ourselves and the client were pleasantly surprised by how the result.
Following a conversation with the client and analysing the supplied documents, we carried out a detailed site survey to measure and cost all qualifying elements of P&M.
We used these costs to generate the plant & machinery allowances claim. We also identified additional relief that was claimable under land remediation relief, as well as demolition costs involved in striping out the old equipment.
Example of fixtures that were claimed:
- En-suite Fittings
- Swimming Pool & Jacuzzi
- Lifts
- Kitchen Equipment
Key fact
Capital expenditure on hotels often brings out high levels of capital allowance as they have a significant amount of fixed plant and machinery compared to other property types. Even considering that, this claim went above 50% of cost as plant and machinery allowances (PMA).
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