Why I Will Never be Rich

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The Issue

When I first got into claiming capital allowances on commercial property expenditure, nearly ten years ago, I did dream of becoming wealthy. Don't get me wrong my work has provided me with a comfortable income but I've not got a Lamborghini in the drive. The thing is know I may have got that Lamborghini if I had been prepared to bend the rules as I know other companies do.

Every week I get a call from someone who has been speaking to another capital allowances claims company ( I can now name the three most likely candidates) and they have been told they can make a significant claim!! Yippee!! However it only takes a brief conversation to understand their position and advise them why they shouldn't be making a claim. Nearly always it is because they will be contravening the Capital Allowances Act 2001 or they are not making enough profit to make a claim financially a good idea. At the very least, if they do go ahead, they will be taking a very aggressive approach. Unfortunately I suspect many of the callers go back to the original capital allowances claims company and go ahead anyway. The capital allowances companies know the HMRC checks very few capital allowances claims and therefore, even if they do something which is not in line with the legislation, they get away with it.  


This is frustrating and I have spoken to my fellow Director more than once on the subject. Our conclusion has always been we would rather carry on doing what we know is the right thing and be able to sleep at night. The "hippy" in side me says by not taking on this dubious business we leave ourselves open to the Universe delivering non contenious business and to date it seems to have been the case. Maybe my real reward will be in the afterlife! 

I should say if anyone ever wants a second opinion on something they have been told we are always available to give advice. We like to maximise a clients capital allowances claim but we always do this within the bounds of the legal framework. 


About plummy1

After failing at and early age to make a living by playing guitar, I started a career helping clients to save money and become more efficient. In 2009 I set up Curtis Plumstone Associates to concentrate on undertaking Capital Allowances Claims on Commercial Property. My business partner is a Deloittes trained expert in this field and my job is to keep him as fully employed as possible on projects large and small.   


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