By James Rodger
Copyright birminghammail
UK households ” have no idea” HMRC might owe them cash. Chris Roberts, who is managing director of Capital Allowance Review Service, works for a specialist firm helping UK commercial property owners recover overlooked tax reliefs. “Most property owners and businesses focus on paying their current tax bills, but they don’t realise HMRC allows you to go back and claim reliefs you might have missed,” said Mr Roberts. “We regularly help clients recover thousands in overpaid tax through legitimate claims they had no idea they could make.” “The tax system is incredibly complex, and it’s designed to collect revenue rather than highlight what you might be able to claim back,” explained Mr Roberts. “Most people assume they’ve paid the right amount, but our experience shows that’s often not the case.” READ MORE Pensioners urged not to withdraw money in ‘panic’ before November change “We’ve seen clients miss out on tens of thousands because they didn’t know that things like air conditioning units, security systems, and even toilet facilities can qualify for capital allowances,” said Mr Roberts. “These items are often overlooked during property purchases, but they can generate significant tax savings.” “Business owners often focus on their core operations and assume their accountant has claimed everything possible,” said Mr Roberts. “But even experienced accountants can miss specialist reliefs, particularly around property taxation.” “The first step is gathering all your property purchase documents, improvement receipts, and tax returns from the past few years,” he explained. “Don’t assume that because something was handled by professionals, it was handled correctly,” said Mr Roberts. “We regularly find unclaimed allowances even in cases where established accountancy firms have been involved.” Mr Roberts concluded: “These mistakes are so common because the UK tax system places the burden on taxpayers to identify and claim reliefs, rather than HMRC automatically applying them. “Most property owners and business managers are focused on running their operations, not becoming tax experts. They rely on their accountants, but even qualified professionals can miss specialist areas like capital allowances because the legislation is constantly changing. “What surprises a lot of our clients is how far back they can go to claim reliefs. For capital allowances, you can often go back to when you first acquired a property, even if that was several years ago. We’ve helped clients recover five-figure sums that were sitting there unclaimed for years. “The key is having your property professionally assessed by someone who understands exactly what qualifies and how to structure the claims properly. “Simple checks can make a real difference. These aren’t complicated processes, but they require knowing what to look for. Most people are amazed at what they discover when they take the time to review their tax position properly.”