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Commercial property owners owed millions in unclaimed capital allowances

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Commercial property owners owed millions in unclaimed capital allowances

A specialist capital allowance claims company believes that commercial property are missing out on claiming millions of pounds.

Portal Tax Claims estimates that 96 per cent of commercial property owners could be owed a refund on mis-sold endowments and payment protection insurance. And it is brokers who stand in the perfect position to educate property owners.

Shaun Murphy, CEO of Portal Tax Claims, said: “In the current economic climate commercial property owners, that are likely to be current or former clients of brokers, should be ensuring that they save every penny that they can and, at the moment, most are unaware that such valuable capital allowances are waiting to be claimed. Literally millions of pounds are due to commercial property owners, but most lack the necessary expertise to make the claim which can be a complicated process.”

It does not take an expert to realise that the most successful brokers are those who for the best relationships with both their clients and their lenders. And adding value to a deal is certainly one way to build upon the client-broker relationship, especially where the amount of ‘value’ to be added is so substantial.

Shaun Murphy said: “During a trial of the proposition we reclaimed, on average, £105,000 for each business in outstanding capital allowances for items ranging from electrical items including emergency lighting, switchboards and switchgears and power supplies to data and telecommunications.

"Ensuring that clients are in touch with a specialist to help claim their full allowance is an excellent way for brokers to add value to clients and further enhance their professional reputation.”

And whilst adding value is beneficial to both parties, we needn’t be fooled into thinking that this is a charity plea for brokers. Portal Tax charges 6 per cent of the money reclaimed from successful cases and brokers may be entitled to 6 per cent of this as an introducer’s commission.

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