propertytaxrefundcentre

AldoG_2

I've been contacted by propertytaxrefundcentre and they believe they can get me tax credits on my debt owed to HMRC. They want some money paid up front. The money upfront is a red flag for me as it was meant to be a no win, no fee setup. They are registered on companies house. Wondering if i should proceed or if anyone else has had dealings with them.

Ayr_Rage

How did they get your details prior to them contacting you?

What exactly do you owe to HMRC and what credits do you think you may be due?

Pay an accountant, not a dodgy NWNF company.

Nomunnofun1

They also won’t be doing any work for you:

No, Property Tax Refund Centre Limited act as introducers for accountancy firms who will put together your claim on your behalf.

They will charge ‘5% of the allowances that they identify for you’. That’s 5% of the allowances, not 5% of the refund. 

OP - are you entitled to property capital allowances?

NorthYorkie

As mentioned above, this firm charges 5% of the allowances claimed, not 5% of the refund. So if, say, £10,000 of capital allowances are claimed, their fee will be £500 and your refund (assuming you are a sole trader paying basic rate tax) will be £2,000. BUT they do not do the negotiating with the Revenue themselves they introduce you to an 'accounting firm' who do that, so there will be their fees to take into account.

Note that the 5% fee is charged on the allowances 'successfully identified'. In the past the Revenue operated a policy of "Process Now: Check Later", so would automatically make a refund on receipt of a claim. If this is still the case, then some time later the Revenue may reject the claim. At what point can the allowances be said to be 'successfully identified'? On receipt of the refund or at the date when the amended return can no longer be subject to enquiry? (In the latter event the Revenue still have the power to raise a 'discovery assessment' years afterwards).

How are they going to 'identify' any allowances? By guesswork of do you have to provide them with all the details of expenditure on your property (which you have already provided to your own accountants in the past)?