Tax Rebates & Refunds

Bradford businesses could be missing out on £55m in tax rebates

December 5, 2012
Posted in Tax Rebates — Written by Geoffrey

According to a specialist company which has looked into the matter, businesses in Bradford could be missing out on around £55 million in tax rebates.

Portal Tax Claims believes that in the Bradford region, around 1,500 small and medium sized firms could be eligible to claim capital tax allowances of around £36,000 or more.

Large corporations are amongst the most likely to take advantage of the capital allowances system, claiming tax rebates for commercial property and the purchase and upkeep of other significant business assets. However, smaller businesses may not realise that they are entitled to the same tax rebates, and could be missing out on thousands of pounds.

Managing director of the tax claims company, Shaun Murphy, explained:

“Businesses in Bradford are missing a trick as far as capital allowances are concerned, often assuming that their accountant has the matter in hand.

“A second common misconception is that capital allowances only apply to items such as computers and vehicles. Our research shows that many firms are failing to take their business premises into account and that each property potentially contains thousands of claimable items. Submitting a rebate can be daunting for the uninitiated but the financial rewards can be significant.”

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