FREQUENTLY ASKED QUESTIONS
Tax relief for construction projects can be confusing and even intimidating. We want to make claims easier and more cost effective without compromising results or increasing risk. If you have a question not covered by below, please contact us.
What are capital allowances?
Capital allowances are a way of obtaining legitimate tax relief on some types of capital expenditure (e.g. commercial property, plant and equipment). They work in the same way as your personal tax allowance only for businesses. Eligible expenditure reduces the amount of business profits that are subject to income or corporation tax.
Because not all capital expenditure qualifies for allowances and different items can attract varied rates of relief, a 'segregation' exercise is needed to identify the correct and optimum treatment for tax purposes for almost all construction projects.
How does the platform manage risk?
The system organises pre-defined construction/work descriptions around an entitlement framework (i.e. to check eligibility for repairs, plant and machinery, land remediation and enhanced capital allowances).
Only items with a legitimate entitlement are tracked and these in turn are flagged using a traffic light system to make sure everyone understands what is straight forward and where judgement is needed. Each item contains summary guidance, HMRC manual references and tax case law commentary; it is as much a knowledge platform as a tool to prepare or estimate claims.
Raw construction data is sorted and assigned to the relevant work categories based on this entitlement framework for report calculation and review.
What types of building projects are included?
The platform is designed for most types of commercial construction projects and has specific analysis templates for: - Call Centres, Car Park (Multi Storey), Commercial Office, Data Centre, Doctor's Surgery or Health Centre, Dwelling House or Flat*, Food Outlet (High Street), Furnished Holiday Letting*, Garage or Workshop, Gym or Sports Hall, Hotel, Industrial Warehouse, Industrial Warehouse (mixed use), Leisure Centre, Manufacturing Facility, Motor Dealership, Motor Store, Nursing or Residential Care Home, Pharmacy, Pub or Restaurant, Retail Shop, Retail Warehouse or Depot, Serviced Office Accommodation, Shopping Centre, Student Apartments*, and, Training Centre (*subject to additional restrictions).
What's the best way to access the system - mobile or desktop?
Because of the level of content, the best way to access and use the system is on a tablet, laptop or PC for which you will need internet access.
What if we use a capital allowances expert already?
Great, we love capital allowances specialists and fully recognise the value they can bring; particularly for large claim portfolios and complex cases (we have our own with 20yrs+ experience). Now you have another option (even if it's just for benchmarking claim results, cost or checking arguments on what qualifies and why).
Is FurastaHUB suitable for every type of claim?
There will be occasions when an alternative approach will be needed such as claiming for R&D reliefs, large claim portfolios, complex cases or acquisitions. We can help in all these instances and will discuss this with you before proceeding with any work.
Will you carry out a site survey?
Provided the cost and project information is sufficiently detailed a site survey is not normally needed. Where it is, a video tour or photographic survey may be requested instead. Our capital allowances experts have analysed many thousands of projects and visited many properties along the way. They are very experienced in cost estimating and project pricing. This experience saves time and cost.
How long is information stored on the system?
We encourage you to download the project analysis reports on completion for your records. Information will remain stored for at least 12 months at no cost under our fair use data policy. Projects (including any back-up) will not be removed without prior notification and at least 30 days’ notice.
What happens if there is an HMRC compliance check?
HM Revenue & Customs (HMRC) are familiar with our claim formats and compliance checks are rare as a result. Notwithstanding, we will be pleased to assist as needed and you are encouraged to get in touch.
One unique feature of the platform is that it contains a lot of guidance to explain the reasoning why items have been included (with references to HMRC Manuals, legislation and case law). This is a great knowledge tool and excellent way to start open discussions with HMRC on understanding and basis.
Can I have my own logo on the report?
Yes. Reports can be adapted to have company logos, name, contact details as well as your own disclaimer.
Can I use the system to let me decide whether I should make a claim or not?
Yes. Simply ‘Add Project’ and you will be able to use our entitlement framework for yourself to check the basis of any claim.
Is there anything else like FursataHUB on the market?
No. We don't believe there is and certainly nothing as transparent.
What differentiates FurastaHUB from what everyone else does?
The system puts clients and advisors in control.
What training will be available?
We provide a range of training options to suit user needs (subject to additional cost). Contact us to get more information.
Are there any limits on data storage?
No. Although this will always be under review through our fair use data storage policy.
How secure is the system?
FurastaHUB is written on Ruby on Rails, which is a web application framework. You might not have heard of Ruby on Rails, but you will have heard of some of the other platforms that use it – Airbnb, Groupon, Zendesk, GitHub. Data storage for Ruby on Rails is on Amazon N3.