CLIENT: Anschutz Entertainment Group (AEG)
PROJECT: The ICON Outlet at The O2 provides a new retail destination in a previously unoccupied space surrounding the O2 Arena, providing a seamless transition between the current Entertainment District and the new retail development. Consisting of 84 new A1 and A3 retail units, public arcades, customer facilities and supporting infrastructure
VERITAS ROLE: Involved from the outset, we provided early tax planning advice around the structuring of the development, preparing individual capital allowance claim submissions across all relevant tax years, including capital contribution claims for tenant inducements for their fit outs
POINT OF INTEREST: The development included decorative ceiling petals and fins which were suspended in the mall areas from new support structures. A case was successfully presented to HMRC to claim this expenditure as qualifying for plant & machinery allowances as an ambient feature, used to attract custom into the outlet
