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- RCK Partners,
70 Gracechurch Street,
London,
EC3V 0HR.
© 2024 RCK Partners - Company House No: 12396021
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In the dynamic and ever-evolving landscape of taxation, businesses and individuals alike are faced with an intricate web of regulations, compliance requirements, and constant changes in tax laws. In this complex environment, the significance of professional partnerships cannot be overstated. RCK Partners, a leading firm in the tax advisory space, stands as a testament to the vital role that collaborations with professionals play in successfully navigating the challenges of the current tax landscape. Our focus on strategic partnerships with key service providers, including accountants, banks, law firms, consultants, and all manner of finance brokers, is designed to aide our clients and our partners’ clients with tailored solutions to navigate this intricate terrain successfully.
The modern tax landscape is a multifaceted terrain that demands a nuanced approach. With regulatory changes in tax legislation, wider macro-economic factors, and an increased focus on compliance, individuals and businesses find themselves in need of expert guidance. RCK Partners recognises the importance of staying ahead of these changes and leveraging professional partnerships to provide comprehensive solutions to their clients.
As one of the fastest growing tax consultancies in the UK, RCK Partners has cultivated strategic partnerships to ensure our clientele receives comprehensive and personalised tax solutions. Our collaborations with essential service providers create a symbiotic relationship, leveraging the expertise of each partner to deliver maximum value.
One of the primary reasons professional partnerships are crucial in the current tax landscape is the need for expertise in specialised areas. Tax laws are often open to interpretation particularly when qualifying behaviour and actions result in significant tax savings, make it challenging for a single firm to possess all-encompassing knowledge. RCK Partners understands this, and by employing industry leading specialists in areas such as Research & Development Tax Credits, Capital Allowances, Business Rates and our Claims Resolution Service, we ensure our clients and those of our partners’ receive the most accurate and up-to-date advice.
In light of the challenges surrounding eligibility criteria, processing delays, and the potential for bad actors in the market, businesses are increasingly recognising the importance of partnering with trusted providers to navigate the complexities of the R&D Tax Credit Scheme.
Engaging with an able provider or consultancy can offer several benefits. RCK is well-versed in the intricacies of the scheme, staying abreast of the latest guidelines and updates. They can help businesses accurately assess their eligibility, ensuring that they meet the criteria and submit claims that align with the current criteria and protocols, for instance the introduction of the Additional Information Forms and Forward Notification.
Moreover, RCK can assist in streamlining the documentation and compliance process, reducing the likelihood of errors and ensuring that claims are submitted promptly. This is particularly crucial given there ported delays in processing claims, as businesses need to optimise their chances of receiving timely financial support for their R&D endeavours.
Furthermore, partnering with a trusted provider, such as RCK, can act as a safeguard against the risks associated with bad actors and fraudulent claims. Reputable consultants adhere to ethical standards and industry best practices, helping businesses maintain integrity throughout the application process.
As regulatory frameworks become more stringent, and rightly so, compliance has become the cornerstone of RCK’s business model. RCK recognises that compliance is non-negotiable when dealing with the qualifying activities of our clients. The bolstering and enhancement of our internal compliance function further mitigates the risk associated with dealing with HMRC. Our compliance unit - https://rck.partners/compliance/ - has grown extensively over the past 12 months. The team includes Chartered Accountants, former HMRC R&D Tax Inspectors and Consultants and is an industry outlier within the tax incentive space. Added to this the appointment of Lord Philip Hammond as a Senior Advisor to the business has given us and our partners greater insight into the political philosophies which create and evolve contemporary tax legislation and legal tax precedent. This is and will continue to be an undeniable USP for RCK and it’s strategic partners.
Governance of our third-party arrangements is at the forefront of our Partner Programme. Through our unique self- regulation approach, we hold ourselves, and our referrers, to the highest standard. Every referral arrangement goes through our bespoke due diligence and onboarding process, managed and vetted by our Legal, Data and Compliance team. Our unique and bespoke approach facilitates a streamlined and efficient onboarding process and fosters successful ongoing partner relationships.
Professional partnerships enable RCK Partners to adopt a client-centric approach that goes beyond traditional tax incentive services. By collaborating with professionals in areas such as accounting, corporate law, financial brokerage and many more, RCK ensures that their clients receive holistic support tailored to their unique needs. This client-centric approach enhances the overall value proposition, making RCK Partners a trusted advisor in all aspects of innovation funding, Capital Allowances and Business Rates Relief.
2023 saw the creation and evolution of partnerships across an eclectic range of sectors. Notable and mutually fruitful relationships such as our work with Oaknorth Bank PLC, Charterhouse Accountants, Knights PLC, HolidayCottages.co.uk, Angels Den, the Metal Forming Machinery Makers association, amongst many others. As a business we look forward to supporting our partners’ clients throughout 2024 and beyond.
As businesses and individuals navigate the intricate tax terrain, the role of professional partnerships becomes increasingly pivotal. RCK Partners' commitment to forming strategic alliances underscores the recognition that the challenges of the current tax landscape are best met through collaborative efforts, ensuring clients not only comply with regulations but also thrive in an ever-changing financial environment.
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Yes - commercial property is one of the most significant areas for capital allowances claims in the UK. When a business acquires, constructs, or refurbishes a commercial property, qualifying plant and machinery embedded within it (heating, ventilation, electrical, and cold water systems) is eligible for capital allowance relief.
This is sometimes referred to as embedded capital allowances or fixtures and fittings tax relief: assets that are physically part of the building rather than freestanding items.
Capital allowances on commercial property are particularly valuable because embedded assets are often not recorded in standard accounting records. A capital allowances survey can identify significant unclaimed relief on items that have been in place since the building was acquired.
When purchasing a second-hand commercial property, a Section 198 election must be agreed between buyer and seller within two years of completion. Failure to do so can permanently remove the buyer's right to claim. Getting specialist advice before you exchange contracts is strongly recommended.
Yes. Capital expenditure on refurbishing or renovating a commercial property can qualify, provided the work goes beyond routine maintenance. Qualifying expenditure typically includes:
Routine repairs, like restoring an asset to its original condition without improvement, are revenue expenditure and cannot be claimed as capital allowances.
Yes. Capital allowances on investment property can be claimed by property investors subject to UK income tax or corporation tax, provided the property is commercial and the investor is the legal owner. Getting specialist advice before you exchange contracts is strongly recommended. As with any commercial property purchase, the Section 198 election window closes two years after completion, so this needs to be on the agenda from day one.
Capital allowances cannot generally be claimed on residential rental property. The Furnished Holiday Lettings (FHL) regime, which previously allowed capital allowances on certain short-term residential lets, was abolished from April 2025.
For commercial rental property (offices, retail units, industrial units), the commercial landlord can claim capital allowances on qualifying plant and machinery including embedded fixtures, provided they are the legal owner and the expenditure has been properly pooled.
Yes, in many cases. If you are a leaseholder and have incurred capital expenditure on improving a leasehold property for business use, for example, fitting out a leased office, you may be able to claim capital allowances on those improvements, even without owning the freehold. The qualifying expenditure must meet the plant and machinery tests under the Capital Allowances Act 2001. Specialist advice is recommended.
Capital Allowances are generally not available on residential dwellings, including buy-to-let properties and Houses in Multiple Occupation (HMOs).
Until April 2025, an exception existed for Furnished Holiday Lettings (FHLs), where qualifying expenditure could attract Capital Allowances. Following the abolition of the FHL regime from April 2025, no new Capital Allowances claims can generally be made on expenditure incurred on FHL properties. However, any existing Capital Allowances pool balances can continue to attract writing down allowances in the normal way.
That said, Capital Allowances opportunities do exist for certain residential investment properties, particularly Built to Rent (BTR) developments and purpose-built residential schemes. Whilst Capital Allowances are generally not available on the individual residential units, they may be available on qualifying communal areas and shared facilities, including reception areas, residents' lounges, gyms, co-working spaces, cinema rooms, lifts, plant rooms, lighting, heating and cooling systems, CCTV, access control systems and other qualifying plant and machinery.
As the rules are complex and depend on the type of residential property and its use, specialist Capital Allowances advice should always be sought to determine whether a claim is available and to maximise any available tax relief.
Commercial landlords can claim capital allowances on qualifying plant and machinery embedded within their properties, provided they are taxpaying entities and the expenditure has been correctly pooled. This applies to both freehold and long leasehold owners. Residential landlords are generally not eligible following the abolition of the FHL regime.
Property developers can claim capital allowances on plant and machinery used in development activities. Expenditure on the buildings themselves is generally treated as trading stock where properties are developed for sale. Where a developer retains completed buildings for commercial letting, capital allowances on embedded fixtures may be available. The line between trading and investment activity is not always straightforward, so specialist advice is worth taking before making a claim.
Yes, but cars are subject to specific rules. Cars are excluded from AIA and Full Expensing and use Writing Down Allowances instead, with the rate determined by CO2 emissions:
Sole traders must restrict the claim to the business-use proportion and maintain a mileage log.
Yes. New and unused zero-emission (fully electric) cars qualify for a 100% first-year allowance, available to both companies and unincorporated businesses until March/April 2027. Second-hand electric cars do not qualify for the 100% allowance but enter the main rate pool for WDA at 14% per year.
The rate for hybrid cars depends on CO2 emissions. Plug-in hybrids at 50g/km or below enter the main rate pool at 14% per year; hybrids above 50g/km enter the special rate pool at 6%. No hybrid qualifies for the 100% first-year allowance.
Yes. Vans are treated as plant and machinery rather than cars, provided they meet HMRC's definition of a van. They qualify for the Annual Investment Allowance — the full cost can be deducted in the year of purchase up to the £1 million AIA limit. Sole traders must restrict the claim to the business-use proportion where the van is also used privately.
For sole traders in particular, the AIA provides a straightforward route to tax relief on a van purchase in the year it is bought.
Car writing down allowances are the way businesses claim tax relief on cars over time. Cars are excluded from AIA and Full Expensing, so the cost enters the relevant pool and a percentage is deducted each year on a reducing balance basis. For example: a car costing £30,000 in the main rate pool attracts WDA of £4,200 in year one (14% × £30,000), then £3,612 in year two (14% × £25,800 remaining), and so on until sold or scrapped.
The opportunity lies in identifying qualifying plant and machinery embedded within commercial buildings — HVAC systems, electrical installations, lifts, fitted kitchens, cold water systems — that are often not recorded in standard accounting. These can represent a significant proportion of the property value and a substantial unclaimed tax saving. A capital allowances survey can quantify this - get in touch with RCK to see how we can help.
The timeline depends on the complexity of the claim and the quality of available records. For straightforward plant and machinery claims, relief can be included in the current year's tax return with minimal delay. For commercial property claims involving a full survey, the process typically takes six to twelve weeks from initial review to a completed report ready for HMRC submission.
Plant and machinery allowances (PMAs) cover assets that perform a function within the business: equipment, machinery, and embedded fixtures such as heating and electrical systems. The Structures and Buildings Allowance (SBA) covers expenditure on non-residential building construction or renovation, including walls, roofs, and floors, at 3% per year. The two reliefs are complementary and can be claimed on the same project.
Yes. Law firms can claim capital allowances on qualifying capital expenditure incurred in their trade, including office fit-out costs, IT equipment, and telecoms. A capital allowances survey can often identify significant unclaimed relief on embedded fixtures not captured in the firm's asset register.
Every business is different, and eligibility depends on the nature of the expenditure, how assets are owned, and how they are used in the trade. Get in touch with RCK Partners to find out whether a claim is viable and what it could be worth.
A Times-featured study, commissioned by RCK Partners and conducted by Censuswide, suggests that recent reforms to the UK's R&D tax relief scheme may have gone too far. The research found that measures introduced by HMRC to tackle abuse of the scheme are having unintended consequences for genuine innovators, with many businesses reporting that they have cancelled research initiatives, paused investment plans and reduced skilled headcount as a result of increased uncertainty surrounding the regime.
Capital allowances are the main form of UK tax relief that allows businesses and property owners to deduct the cost of qualifying capital assets from their taxable profits. Governed by the Capital Allowances Act 2001, they take the place of commercial depreciation and provide a structured mechanism for obtaining relief on capital expenditure, either upfront or over time.
Capital allowances on cars allow UK businesses to claim tax relief on the cost of vehicles used for business purposes. This guide is written by RCK Partners to help UK businesses understand capital allowance claims on vehicles.