Super Deduction and Full Expensing help Peak Pharmacy with their bold expansion plans
YesTax recently had the privilege of assisting Peak Pharmacy with the capital allowances analysis on their new high-tech distribution centre in Chesterfield. The expansive development had an impressive scope and cutting-edge automation technology. The project covers 113,000 square feet and has a continued focus on sustainability, with energy efficiency measures such as electric charge points for colleague and business vehicles, major tree-planting and provides an excellent working environment for staff, including canteen and leisure facilities.
This is exactly the kind of UK investment that the Super Deduction and more recently Full Expensing was designed to encourage and it’s great to see such a high-tech and thriving business growing on our doorstep, in Chesterfield.
YesTax performed a comprehensive and detailed analysis of the development costs, liaising with their suppliers and development team at each stage, as well as providing specialised structuring advice enabling the best application of the Super Deduction, Full Expensing and other key reliefs. A specialist survey and valuation exercise means claims are fully disclosed, supported in accordance with best practice and reach their full potential.
Working in conjunction with our clients, at the time of incurred expenditure, (rather than making claims in retrospect) means key reliefs are accelerated and play a pivotal role in the cash flow of a project. In many cases (when eligible for full expensing, Annual Investment Allowances or First Year Allowances), capital allowances give you the ability to deduct up to 100% of the cost of an eligible asset from your taxable profits, significantly reducing corporation tax and incentivising businesses to invest in themselves over a longer term, which in turn benefits the UK economy.
To achieve best results, it’s important to seek advice at the outset of your capital investment projects.
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