Poole Audi Appoint Specialist Business Advisers to Maximise Tax Savings

Car dealerships have been urged to examine the potential tax savings available when they invest in property alterations and modernisation

car dealership capital allowances

Following major investment in new and refurbished premises by leading Dorset car dealership Poole Audi, the company has appointed property taxation specialists in order to maximise the property tax savings from their expenditure. Alun Oliver, Managing Director of Dorset based E3 Consulting has been brought in by Poole Audi Managing Director, David Kelly, to carry out a review of capital expenditure on both the company’s refurbished showrooms on Ringwood Road and Poole Accident Repair, located just half a mile away at The Fulcrum, Mannings Heath.

Over the past 12 months David’s company has invested over £850,000 in a state of the art 10,000sq ft Accident Repair Centre that provides not only the latest purpose-built facility of its kind in the region, it is also the first of its type on the south coast to be registered to repair Volkswagen Audi Group aluminium-bodied cars as well as meeting the standards set for repairs by leading vehicle manufacturers. Of particular note is the Globaljig aluminium repair facility, only the fifth in Britain – the next closest being Bristol.

The Audi dealership is part way through a £1.9m refurbishment of their showroom and maintenance facilities. Specialist property tax consultants, E3 Consulting, has forecast potential tax savings, over time, up to c£500,000 will be available to the company from these investments. E3’s task is to use their expertise in this complex area to ensure that all eligible asset expenditure is properly categorised for capital allowances. Without this expert input, valuable tax relief is often lost – “in over 80% of cases we review, we can identify enhanced tax savings” comments Alun, “thus a great many tax payers are giving too much of their hard earned money to HM Revenue and Customs”.

E3’s ability to optimise claims and consequently save companies money comes from their thorough knowledge of property taxation, thus spanning the divide surveying and accountancy. Not only does the E3 team understand the tax legislation but also the practical aspects of construction, cost management, building technology and valuation. This is a very specialist area of tax legislation in which very few advisers in the UK can claim to have genuine expertise. E3 Consulting’s results speak for themselves with the firm saving client’s many millions of pounds in the past year alone.

Alun Oliver says the Poole Audi projects are perfect examples of where capital allowances can be used to maximise tax savings and adds, “People often mistakenly treat capital allowances as an after thought, or even of limited value - but this is far from the truth – the tax savings can be very significant proportion of the project spend, in some cases up to 100%. Furthermore effective and timely advice can also enhance the value of savings achieved as substantive data can be collated throughout the project duration, rather than lost for good in deep archive!”

“We were very impressed with Alun’s thoroughness and professionalism” said David Kelly “he explained very clearly these complicated tax rules and how they could yield us the significant savings identified”.

This article is by Tim Rose. 

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