BUSINESSES in Bury could be missing out on £23.7 million in tax rebates, new figures suggest.

According to analysis by Portal Tax, the owners of an estimated 660 commercial properties in Bury could stand to receive thousands each for unclaimed capital allowances.

This is for fixtures and fittings and includes anything which does not form part of the building’s fabric such as plumbing, electrics, carpet, air conditioning, lifts and fire safety.

Portal Tax’s managing director Shaun Murphy said: “Given the economic climate, owners of commercial property need to save every penny they can and most are unaware they can claim significant relief for capital allowances on fixtures and fittings.

“Any property owner who has not made a claim should contact their accountant or discuss it with a specialist business.

“Tax rules are changing and businesses should ideally address the issue this year.”

Businesses who submitted these claims in 2012 received an average tax payout of more than £36,000 and nationally the total allowances still unpaid have reached £8.8 billion.

The top five items on which the allowance had been claimed back for were ironmongery; sanitaryware and plumbing; power, data and light fittings; floor coverings, signage and wall finishes; and fire, communication, security and heating and cooling systems.

For more information: call Portal Tax on 0845 000 0450 or go to portaltax.com