Capital allowance claims: The client was undertaking a large-scale project to underpin their commitment to sustainability and future commercial performance. The costs involved and tax allowances surrounding them were complex in nature. So, a detailed understanding of the project and review of the costs would be necessary to ensure that capital allowances could be maximised.Without this review, the long-term cost of the project would significantly increase.
Corporation tax: Menzies provided full taxation services and with this came the advice on quarterly payments, taking into account the capital allowances which was beneficial during the large project in terms of cash flows
Corporate interest restrictions: As a result of interest rates reaching modern highs over the last two years, the client was at risk of seeing a significant tax disallowance on interest charges, which was flagged by the tax team and options have been explored relating to this.
Collaboration between internal teams: Having come to Menzies from a top 6 firm, the communication with Menzies has been substantially improved with a good audit planning timetable. With this collaboration, all deadlines have been met with regards to the timetable. This is something we regularly encounter when taking on clients from larger firms, especially involving complex assignments that involve multiple departments. This collaboration has resulted in efficient planning for the projects of South Lodge’s vineyard and eco-lodge project.
