Johnston Carmichael’s Capital Allowances team advised on £162m of commercial property projects last year, including the Radisson RED Hotel in Glasgow, as developers tune in to tax relief benefits earlier.

The ever expanding department has worked on a range of commercial property developments – the equivalent to £1.34 billion in investment - since its inception in 2013. In its last fiscal year, the team provided tax relief analysis on schemes with an end-value of £162m, from offices, industrial and renewables to education, agriculture, retail, distilleries - and Scotland’s burgeoning hotel scene.

Johnston Carmichael’s specialist advisors worked extensively with the Forest Hotel Group on the iconic Radisson RED Hotel in Glasgow, located beside the SSE Hydro and Scottish Event Campus (SEC). In a blossoming development trend, the team entered the initial design stages of the project and analysed plans to map out the most effective reliefs available for the scheme under the UK tax system.

The team is led by experienced surveying and construction professionals, Michael Murray and Robert Winters.

Michael Murray said: “I’m proud to say we have worked with many of Scotland’s leading commercial developers, and innovative individuals, across £1.34 billion of end-value property projects in the past five years and we have a strong pipeline for the year ahead, and beyond.

“We get involved as early as possible; this could be during a property transaction or the design stage of a new build or refurbishment project. This innovative approach continues to gain traction in the market, with clients seeing direct benefits and engaging with us earlier and earlier for advice. We are the bridge between the worlds of commercial property and accountancy.”

Capital allowances is the practice of allowing a company to get tax relief on tangible capital expenditure on commercial property developments. Johnston Carmichael’s in-depth knowledge assists in mitigating associated financial burdens by providing strategies and options to optimise a capital allowances position.

The team brings significant industry experience which allows them to interact effectively with architects, consulting engineers, project managers, lawyers and accountants alike.

Johnston Carmichael’s head of tax, Susie Walker added: “Johnston Carmichael’s tax offering continues to go from strength-to-strength, providing solutions for clients across a range of disciplines country-wide. The Capital Allowances team is integral to this. It works on many of Scotland’s leading commercial projects and has become a trusted adviser to developers since it was formed in 2013.”

If you'd like to learn more get in touch with either Michael or Robert, or visit the Johnston Carmichael Capital Allowances site