A small flavour of the projects Mazars' Real Estate team has been involved in over the past 12 months.
Case study 1 – Overseas listed groups’ acquisition of UK real estate
In the past 12 months, we have helped an overseas pension fund acquire £500m of residential and commercial real estate in the UK. We have provided due diligence services (both financial and tax) and tax structuring advice (both UK and cross-border) in respect of their acquisitions, which has enabled them to be confident regarding their acquisitions and ensure that they are structured in the most tax-efficient way.
Case study 2 – Cross border transfer of property
We have assisted a client in transferring prime London real estate from their Swedish company to a newly incorporated UK company. Specifically, we helped the client to incorporate the UK entity and have advised them on how to structure the transaction in a tax-efficient manner. We have also completed and filed the necessary tax and company filings for the UK entity. We worked closely with our Swedish colleagues in respect of the transaction in order to make sure that any transactions undertaken worked from both a UK and Swedish tax perspective.
Case Study 3 – Investment management
We have supported an investment management group to secure £240m loan facility from a financial institution to finance the development of prime mixed-use real estate in the heart of London. We provided funder due diligence services and structuring in respect of the development, which enabled them to structure the development in the efficient way.
The client was able to obtain the financing required and have now completed the development, repatriating profits effectively to continue their journey of growth as a business. The financial institution also became a recurring client due to the quality of the advice provided.
Case study 4 – Capital allowances review of a retail group
We have supported a Nasdaq listed international retail group to analyse approximately £8m of their shop fit-out expenditure in their prototype store to identify expenditure that will qualify for capital allowances. We worked very closely with the client’s management, finance teams, and contractors to ensure that we can optimise the potential tax relief available. We provided our analysis in a detailed capital allowances report that has been used to determine the eligibility of subsequent shop fit-outs and supported our client through the full process involved for each of the claims.
Case study 5 – Tax compliance of overseas asset management group
We support international asset management clients with their UK tax compliance obligations. This involves preparing partnership tax returns on both a corporation tax and income tax basis, Non-Resident Landlords tax returns, and Company tax returns. We ensure that we meet all agreed and statutory deadlines and ensure regular communication throughout the compliance cycle. The quality of our service has meant that our mandate has grown from an initial review to multiple ongoing engagements.
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