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Gymnastic club - not for profit

Claiming Capital Allowances for a restaurant owner who renovated a building.

Croydon Gym

William converted an old Co-Op into a new gymnastics pit. This involved a complete overhaul of the building, bringing in specialist equipment and flooring to meet the needs of the future gymnasts.

The challenge

What did we need to do?

William contacted Sponjem having been recommended to Paul Jempson by his accountant, to see what Capital Allowances could be claimed on the investment he had made in the gym.

He wanted to make sure that everything he claimed for was 100% correct and he wasn’t going to have issues with HMRC further down the line.

There was so much work completed from floors to equipment to electrics and everything needed to be considered, which is why he needed Sponjem’s expertise.

Paul visited the gym on a site visit to review everything that had been completed in order to begin preparing the claim.  Paul then worked closely with William to compile the claim. William said this process was rightly vigorous and gave him reassurance that it would get him a fair representation of his investment.

The results

What did we manage to achieve?

Paul’s proactive approach was able to save William £330k of Capital Allowances and £139k of Structures and Buildings Allowances which was instrumental in his financial planning for the next 5 years.

I was really impressed with the thorough and conservative approach from Paul. He stated the fact and didn’t take any risks, which was exactly what I needed. I couldn’t have been happier with the end result and we got the best outcome we could have hoped for. I just wish I had a wider portfolio so I could use him on more things!

William Flint
CGC Elite Limited