Birmingham businesses losing £1.2bn tax
Commercial property owners in Birmingham could be missing out on almost £1.2bn in tax returns, according to research.
Portal Tax Claims, which carried out the study, said that it reclaimed on average £105,000 for each business it assisted in outstanding capital allowances.
The company estimates 96 per cent of businesses which own their own property – about 28,000 in Birmingham - could be owed a refund.
For business owners within the 40 per cent tax band, this equates to £1.17bn that could be claimed back in Birmingham alone.
Shaun Murphy, chief executive officer of Portal Tax Claims, said: "Literally billions of pounds are due to commercial property owners across the UK, but most lack the necessary expertise to make the claim which can be a complicated process. As we only make a charge if successful, we would urge any commercial property owner to give us a call as they have nothing to lose and have potentially tens of thousands of pounds to gain."
