A new capital allowance claims company is looking to claim back £5 billion worth of tax for commercial property owners in the next five years, through capital allowance.
Portal Tax Claims, part of the Portal Group, which, since 2003, has reclaimed over £60 million worth of mis-sold endowments and payment protection insurance for over 20,000 customers, aims to help businesses claim over £1 billion a year in capital allowances.
During a trial of the new proposition it reclaimed, on average, £105,000 for each business in outstanding capital allowances for items ranging from fire alarm systems to air conditioning.
Portal Tax Claims estimates that 96% of businesses that own their own properties, or commercial property owners, could be owed a refund. Moreover, Portal charges 6% of the money reclaimed, but only if a successful claim is made.
Shaun Murphy, CEO, Portal Tax Claims, said: “In the current climate owners of commercial property need to save every penny that they can and
