Member Article

London capital allowances specialist Catax Solutions expands workforce by 20%

London-based Capital allowances specialist, Catax Solutions, has seen turnover increase by nearly 40% on last year (2013), with the figure now standing at over £4 million for the first time.

Catax Solutions,which specialises in identifying unused capital allowances on behalf of owners of UK commercial property, has to date arranged more than £500 million worth of tax relief for over 6,000 clients.

Holding 50% overall market share, the quantity of work processed by Catax reached a record height in the three months between June and August, increasing by 71%.

In response to this increased output, in 2014, the Catax team expanded its team by a fifth (20%), with 30% of this expansion through graduate recruitment.

Mark Tighe, managing director, Catax Solutions said: “HMRC – unsurprisingly – don’t go shouting from the rooftops about the considerable rebates commercial property owners can enjoy in the form of capital allowances.

“But with the a surge in instructions and enquiries Catax has experienced this year, it seems more and more people are cottoning on to the concept.

“We have watched in frustration as Britain’s commercial property owners have been throwing away an absurd amount of money in tax relief month after month due to a lack of understanding and knowledge of capital allowances, so it’s a positive to see many commercial property owners across the country claiming what they’re owed.

“Currently, we carry out a great deal of work in the medical sector, closely followed by hospitality.

“However, our partnerships with both The Law Society, which represents solicitors in England and Wales, and ICAEW, a world leader of the accountancy and finance profession, has significantly helped to raise awareness of capital allowances in two key sectors for growth.

“We look forward to these partnerships flourishing in 2015 and ensuring Capital allowances stays at the top of every commercial property owner’s agenda.”

This was posted in Bdaily's Members' News section by Ellen Forster .