As part of redevelopment programme at an English international sports stadium, a new 100- bed hotel along with public and private terraces was constructed over the footprint of a previous hotel. The project also involved the development of a 1,000+-seater stand, a heritage centre, a guest services hub, and a new retail store. The standard of the development is very high, featuring: a glazed aluminium curtain walling/window system. The hotel is arranged over 6 floors with access via stairwells and passenger lifts and includes comprehensive dining and bar facilities. There is also a high degree of insulation and acoustic treatment throughout.
WHY DID SIX FORWARD GET INVOLVED?
Six Forward was instructed to maximise the client’s tax relief. Milestone capital allowances analyses and reporting at staged intervals was implemented. This facilitated tax planning through a continuous collaboration with the client and their auditors.
HOW DID WE HELP?
We closely liaised with the project team and the client’s finance leadership over two financial periods. The total claim was assembled to meet the client’s year-end reporting requirements.
Further complexity arose because Super Deduction (SD) considerations of £0.5 million straddled the SD cut-off date of 31st March 2023. SD provided a further allowances uplift at 107.4%
RELEVANT LEGISLATION FOR THIS CASE.
CAPITAL ALLOWANCES ACT 2001 S11, S15, S176, S33A AND S270AA
WHAT WAS THE OUTCOME?
Analysed expenditure of £20,187,275 was allocated as follows:
