We were retained the capital allowances adviser on the circa £52 million construction of a landmark five-star hotel close to the Tate Modern.
Through our advice, qualifying expenditure was valued at circa £32 million, a 60 per cent recovery level. This was achieve through early involvement in the project, enabling tax efficient design input, monitoring the work progression and also having access to detailed project cost and design documentation.
Tax efficient design meant that circa 10 per cent of qualifying expenditure was in the form of 100 per cent enhanced capital allowances.
Now completed, the hotel provides 292 en suite guest rooms, including a presidential suite and 20 executive rooms, a ballroom, an indoor swimming pool and fitness facilities, an executive lounge, conference rooms, a bar and all-day dining facilities. The specification of the hotel also meant the installation of high levels of sound insulation measures and ambient trade features.