Tax Depreciation

Our Tax Depreciation Team consists of chartered engineers and tax professionals, who work extensively in preparing optimised and compliant tax depreciation reports (TDRs).

Certain expenditure on plant and machinery (P&M) may qualify for capital allowances over a period of eight years. Expenditure on certain energy efficient equipment may qualify for 100% write off in the year of expenditure. A comprehensive and considered TDR will optimise a claim for capital allowances which may reduce a company’s tax liability significantly.

Those who may avail of capital allowances include: 

  • property developers developing new buildings, retro-fitting or renovating existing buildings;
  • landlords / owner-occupiers carrying out refurbishment or fit-out projects; and / or
  • tenants who carry the burden of ‘wear and tear’ of qualifying P&M.

Identifying qualifying expenditure on P&M for capital allowances purposes is a complex area as there is no legislative definition as to what constitutes ‘plant’. Reference must therefore be made to the extensive body of case law and our experience. Whether an item of P&M qualifies must be determined by:

  • reference to the facts; 
  • the nature of the trade; and 
  • the function of the item in the trade

William Fry Tax Advisors was awarded Ireland Tax Firm of the Year and Impact Deal of the Year at the International Tax Review European Awards 2019 in London. 

 

Our Tax Depreciation Team holds professional qualifications in:

  • taxation – AITI Chartered Tax Adviser (CTA)
  • construction project management;
  • town planning; and
  • chartered engineering. 

The team has gained considerable experience in the construction sector, both in consultancy and on site. Therefore with our combined technical skill-sets and knowledge-base we have the requisite experience to engage with construction design professionals to compile comprehensive Tax Depreciation Reports (TDRs) on behalf of our clients.

Recent work includes the preparation of TDRs for: 

  • a 6-storey office building over double story basement in the heart of Dublin;
  • a warehouse refurbishment into high specification office accommodation;
  • a protected structure converted into public amenity space; and
  • a considerable extension to an existing office building.

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Department

  • "The team is professional, well informed and forward thinking. Very responsive, with an excellent range of tax knowledge both locally and internationally." Legal 500 2020, Tax 
  • William Fry's Tax team have been described as "professional, well informed and forward thinking" as well as being a "responsive and partner-led tax practice issuing practical advice." One client notes that the team has an abundance of "knowledge, experience, professionalism and the ability to apply lateral thinking and multi solutions." Another client adds that they have "an excellent range of tax knowledge both locally and internationally." They are very "responsive and helpful, and we fully trust the advice that we receive."  Legal 500 2020
  • There's a real broadness, a client states "You can talk to one person who has a legal, tax and international perspective all in one".  Other sources appreciate the client-centric service provided by team members: "We've got a great relationship with the team and we find them to be very effective. They really demonstrate their commitment to client service". ​Chamber Europe 2019  
  • "William Fry's commitment to client service is excellent", says one source, who also praises "their real breadth of knowledge and willingness to allocate the people required when there is a need for a quick turnaround." Another reports that the "technical depth, exposure and experience of the senior team set them apart." Chambers Europe 2018
  • "Sources assert that "from a technical perspective they are clear and direct." Interviewees also value the team's "responsiveness to client needs and commercial awareness." Chambers Europe 2017
  • William Fry’s practice includes Sonya Manzor, who ‘devises well-thought-out tax strategies’ for clients such as King Digital Entertainment. International tax specialist. Legal 500 EMEA 2017
  • "The firm is very responsive and has great resources, including access to a global network of tax advisers, which benefits us internationally and is a fantastic asset. The firm's ability to provide both legal and tax advice really ensures everything fits together.Chambers Europe 2016

Team

    Sonya Manzor

    • "Sonya Manzor leads a very strong team at William Fry. I have worked with Sonya for several years and have always found her and the members of the wider William Fry team to be excellent. Sonya and her team provide superb client service to us." Legal 500 2021, Tax 
    • According to clients, Manzor is "technically very good, commercial in her approach and gives excellent client support." Chambers Europe 2020 
    • "I really admire the way that Manzor is able to review advice and drill into the key technical points and make very sensible, constructive comments on the tax issues," enthuses one highly impressed interviewee. Chambers Europe 2019
    • The "outstanding" Sonya Manzor is a key name in the corporate tax space. Legal 500 2018 
    • Clients describe her as "a very talented individual and creative thinker." She assisted with the sale of Phillips 66's interests in the Whitegate Oil Refinery. Chambers Europe 2018
    • Sonya Manzor is "well renowned for her technical expertise in a broad spectrum of tax matters, including inward investment, corporate reorganisations and M&A transactions". Chambers Europe 2017
    • Sonya Manzor is the firm's most prominent corporate tax lawyer, coming recognised for her "tremendous knowledge and experience. She understands direct and indirect tax in Ireland, the EU and the US. She is instrumental in coming up with creative ideas to get around the problems we face."  Chambers Europe 2016

    Brian Duffy

    • "Brian Duffy is commercial and responsive." Legal 500 2020, Tax

    Ted McGrath

    • According to clients, Ted McGrath offers "practical, concise, sound and logical commercial advice."  Chambers Europe 2020 
    • Ted McGrath debuts in the rankings this year on the back of strong client endorsements. "McGrath gives very pragmatic and direct advice," reports one pleased client, adding: "He can weigh up the commercial aspects of the deal." Chambers Europe 2019

    Declan Lavelle

    • "Declan Lavelle is top drawer, maintaining a friendly approach coupled with advice of the highest quality." Legal 500 2020, Tax

    Rachel Fox

    • "Rachel delivers practical legal advice, provided in a timely fashion and with the highest attention to quality." Legal 500 2021, Tax

    Key Contacts

    Brian Duffy Partner

    Sonya Manzor Partner