Enrich Recycling
Enrich are an Irish recycling company specialising in manufacturing horticulture and agricultural soil improvers from apparent “waste” materials.
“We recently completed work on 5 new buildings with a total area of 4,400 m2, at our manufacturing facility in Kilcock, Co Meath. Having learned about CapAll Solutions and their services from a company accountant at another recycling company, we took the opportunity to have a Free Capital Allowances Review to ensure that we had both secured and maximised our plant and machinery tax entitlements. The Capital Allowances in our building were worth approximately 60% of overall construction cost, and were formed from two types of allowances:-
- Capital Expenditure that qualified for general Plant and Machinery in accordance with the Taxes Consolidation Act 1997 (claimed at a rate of 12.5% over an 8 year period); and
- Capital Expenditure on energy efficient equipment that qualified for Accelerated Capital Allowances (claimed in Year 1 – i.e. 100% relief).
Whilst we were aware of the Accelerated Allowances already, CapAll advised us of significant amounts of embedded Plant and Machinery – specific to our trade, which we had not considered eligible for Tax Relief. The total Tax Relief for our company was approximately 7.5% of the total construction cost, a significant boost to our company’s cash flow! CapAll conducted themselves in a professional manner throughout and ensured that the claims process was relatively straightforward from our point of view. We have no hesitation in recommending their services.”
Tim Duggan, Managing Director, Enrich
Lucey Transport
“Lucey Transport completed construction of 2 large warehousing units in 2006, located in Cork and Dublin. CapAll Solutions contacted our company enquiring whether we had submitted a ‘Capital Allowances Tax Relief Claim’ to cover our expenditure on Plant and Machinery Allowances. Initially we were unaware whether this applied to our company or not, and indeed we figured that we already had this covered. However we decided to avail of the free review in order to find out for certain…
CapAll visited our properties and conducted their surveys and any meetings with our representatives in a professional manner. We were more than happy to learn that we were in fact entitled to significant Tax Relief on our Plant and Machinery expenditure, so we decided to proceed with the Claim. CapAll prepared professional reports for the Revenue, and throughout the process were always very approachable. We are extremely satisfied with the result and happy to say that this will considerably assist our Cash-flow in the coming years. I would recommend any Company to avail of the Free Capital Allowances Review.”
Kevin Lucey, Lucey Transport
Logistics Centre
“We purchased our current 40,000 sq ft facility in 2002, soon after we made a claim for Capital Allowances on the property which we believed covered everything… In 2010, however, we were approached by CapAll Solutions, who offered us a free review to assess whether we had maximised our full Capital Allowances entitlement. The process involved CapAll Solutions conducting a thorough building survey and analysing previously submitted returns to check for prior claims. As a result, CapAll Solutions identified an additional €384,465 worth of Capital Allowances, which will provide us with a very significant ongoing saving over the next 8 years.
CapAll’s conduct was very professional, and we were more than happy with the result they achieved. We would recommend any commercial property owner to avail of the “Free Capital Allowances Review”.
John Duffy – Duffy Express Freight Ltd, Donegal
Recycling Facility
“We recently completed the construction of a new 66,500 sq ft recycling facility. Our accountant dealt with the direct purchase plant and equipment, but identified that the building contract might still contain further capital allowances qualifying for valuable tax relief.
They recommended this project would benefit from the use of a specialist and in response we asked CapAll Solutions to initially carry out a free review, then prepare a full claim. CapAll Solutions analysed the property construction contract expenditure of circa £2.8m and identified over £1.1m of additional capital allowances.
Between our accountants and CapAll Solutions the after tax cost of this project was reduced significantly. The whole process was very smooth with little input from ourselves, yet the tax relief secured will greatly assist our cash flow over the next 8 years. We would therefore have no hesitation in recommending CapAll Solutions LLP.”
Director – Major Recycling Facility, N. Ireland
Furniture Distribution Company
“CapAll solutions approached our company proposing valuable tax savings on the capital expenditure we incurred on the construction of our distribution centre. We reviewed our asset registers, and it was evident that our accountants had only claimed for isolated plant and office fit-out … not the building works or ‘embedded’ Capital Allowances.
Utilising their combined specialist tax and surveying / construction expertise CapAll compiled a detailed Capital Allowances claim that secured our company approximately €1,800,000.00 of Capital Allowances, equating to €225,000.00 in tax savings.
The claim report was submitted and within 4 weeks we received a cheque back from the revenue for €32,000. We also have the balance (€193,000) as an ongoing saving over the next 6 years. We are delighted with the results, and have no hesitation in recommending CapAll Solutions”
Financial Director – Major Distribution Company, North Dublin
Property Management Company
“Soon after completing our new rental offices/factory…. our accountants advised us that to maximize our capital allowance entitlement we should talk to CapAll Solutions. Without obligation, we had an informal meeting with one of their directors. After completing a review and survey of our building, CapAll put together a robust claim that secured our company a significant list of Capital Allowances, in addition they calculated the Industrial Buildings Allowance (IBAs) generating a dramatically increased amount of tax relief, which was much greater than expected.
We found CapAll Solutions to be a very experienced, professional team, who maximized valuable tax relief for our company, we’d therefore be happy to recommend / refer them to anyone that has commercial property and is in need of Capital Allowance specialists”
Owner – Property Management Company, Lisburn