Harrogate-based Stuart Rivers Associates is celebrating its 20th anniversary this year as specialists in capital allowance tax savings.
Since its inception the company has saved its clients over £100 million.
Stuart Rivers launched the business from his home in 1993.
Two decades on and the company employs 11 staff at its offices in North Park Road.
“The business has come a long way from those early days.
“Once I could demonstrate to clients the benefits that could be derived from successful capital allowance claims, I just kept going.”
Capital allowances provide a type of tax relief that allows businesses to deduct the cost of certain assets from their taxable profits.
This tax relief can be generated following capital expenditure on commercial property including property purchases, new build, existing property, refurbishments or the fit-out of let property.
Recent changes in legislation coupled with businesses actively seeking tax savings in the current tough economic climate have provided an impetus in capital allowance work and their value as a tax relief source.
“We have considerable technical expertise in capital allowances and this combined with the professional service provided, has seen us retain many valued clients over the years.”
One of Stuart Rivers Associates’ first clients was the former Yorkshire Electricity company which bought six high value properties across the UK as commercial property investments.
“I approached them about capital allowance claims and was asked to take a look at what they could claim on their buildings.
“We realised up to £10 million of tax relief for them – I couldn’t have wished for a better start to my business!”
While renting offices in Wetherby the business steadily grew and in 2008, Stuart Rivers Associates moved to its current premises in Harrogate.
“I’m very keen to promote capital allowances and the savings they can realise for businesses.
“There are still many companies in the commercial property sector that could benefit from them and it’s no surprise to hear me say that they should seek expert advice.”
Stuart and his colleagues plan to celebrate the 20th anniversary by completing the Yorkshire Three Peaks challenge.
“We are an active team with very varied interests and wanted to find a fitting way for us all to mark the occasion.
“When we sat down and really looked into it we realised that in conquering Pen-y-Ghent, Whernside and Ingleborough we would be climbing over 2,000 metres in total – 100 metres for every year we’ve been in business which seems rather apt.”