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Incentive FM launches sustainability initiatives

21 July 2008

Incentive FM has launched a range of ‘Sustainability Initiatives’ designed to help landlords, property agents and occupiers to reduce the running costs for their buildings, meet the new and future legislative requirements and benefit from the resulting tax savings.

The initiatives are designed to help organisations to reclaim tax on previous capital works, gain tax relief on energy efficient building enhancements and generate an Energy Performance Certificate when and where required.

Jeremy Waud, Managing Director at Incentive FM explains: “2008 saw the introduction of significant changes for owners and occupiers of commercial property in the UK, with a revised Capital Allowances tax relief system, and the introduction of Energy Performance Certificates. At Incentive FM we are working in partnership with a leading firm of tax experts and are advising clients to adopt a proactive approach to both the tax opportunities and energy savings, as each will separately have an impact on the bottom line where new expenditure is planned. We are able to undertake initial reviews to identify possible tax savings free of charge and provide both input on EPC issues via our consultants and certification services.”

Incentive FM’s Sustainability Initiatives will look at the area of Capital Allowances which are primarily for the Plant & Machinery content of a building – and can be extended to cover all heating, air conditioning, electrical systems etc as well as a lot of fit-out costs. The company advises that pre-planning will help ensure a tax-friendly approach and can improve the outcome of the final tax reclaim after completion of building improvements.

“When considering Capital Allowances, we have found that it is always worth undertaking some diligence on past expenditures, as the UK system has been characterised by widespread under-claiming of relief. Expenditure on building from even 5 or 10 years ago that companies have probably forgotten about can sometimes yield unexpected tax windfalls,” explains Jeremy.

With regard to Energy Performance Certificates (EPCs) Incentive FM believes that most existing buildings are likely to achieve low scores in the new asset ratings for performance and that successful long term management will require consideration of this area when planning refurbishments or upgrade programmes. Doing so should help optimise the EPC rating and help protect a building’s potential future value as energy costs look likely to become of growing importance to both occupiers and investors.

“Our sustainability initiatives are all about maximising tax savings and lowering running costs for our clients. For example, enhanced Capital Allowances tax relief offers an immediate 100 per cent tax deduction for the cost of low carbon or energy saving equipment that you now install. Therefore, selecting this will not only help maximise tax savings but also positively influence the potential EPC rating. This will benefit all of our clients and is just another example of the range of added value services we now offer to enhance our core FM service,” concluded Jeremy.

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