Birmingham based tax advisory, Innovation 4 Business, has launched a new Capital Allowances offering, bringing in well-known specialist Aulfat Bi from Deloitte.
Aulfat joins Innovation 4 Business to head up the new team, bringing with her almost 20 years’ experience in this specialist area of tax, most recently being one of the leads for the national Tax Depreciation team based in Birmingham.
Whilst there were Capital Allowances claims of almost £99 billion in 2018-19 it remains an area of tax relief that is often not claimed by businesses. Capital allowances is a tax relief that companies can claim from HMRC against retained assets, commonly items such as plant, machinery and company vehicles. With the introduction of Structures & Building Allowances previously non qualifying assets such as walls, floors and ceilings can now also qualify for tax relief, subject to meeting certain criteria. The Manufacturing sector claims the greatest amount of Capital Allowances overall, accounting for 12%, or £12.2 billion, of the total amount claimed.
Phil Moore, Managing Director of Innovation 4 Business, commented: “I am hugely excited at the prospect of Aulfat joining us to lead our new Capital Allowances team, and indeed about launching this as a new service within the business. Capital Allowances has been an area we have long wanted to add to our repertoire, and I am thrilled that someone of Aulfat’s calibre has agreed to join us at Innovation 4 Business to head up our new team. She is both CTA and ATT qualified and has a stellar background, having worked at Deloitte for all of her professional career to date, with countless fantastic successes. Some of her highlights include key business development and a strong track record in client wins, delivering work, mentoring and coaching junior colleagues, implementing new software systems, improving recoveries for clients above the average level, and extensive liaison with HMRC on capital allowances &D enquiries. I know Aulfat is going to be a superb addition to us for existing and new clients, and I can’t wait for her and her team to hit the ground running.”
Aulfat added: “I am really looking forward to joining Innovation 4 Business to head up the Capital Allowances team. It’s an area I’ve worked in for some time, but I am relishing the challenge of developing this as a new area of work for a well-established and respected business, who hasn’t offered it before. Capital Allowances is a tax relief that so many businesses could benefit from so it’s a huge area of development for most and I love nothing more than saving clients’ money that they would otherwise be unaware of”.
Russell Martin, Chairman of ARMCO Group, said: “We have long been discussing adding Capital Allowances to the Innovation 4 Business services and I am delighted that Phil has recruited someone of Aulfat’s quality to join and lead the new team. It’ll be a fantastic addition to the company and the wider ARMCO group – just another string to our bow!”.
Innovation 4 Business specialises in SDLT, property tax, property partnership incorporation and research and development relief. Innovation 4 Business is part of ARMCo, a newly launched group of companies, set up to provide clients with a holistic service across property and financial services. Other businesses in the group include: Finance 4 Business, Liquidity Club, Debrett’s Private Finance, Trust Financial, Atlas Land & Planning, Walker Doble, Green Liquidity, The Lighthouse Group, Cape Insurance and Chordis.
For more information please see www.innovation4business.com