A YORKSHIRE accountancy firm has helped a regional property company claim back £2.4m in tax allowances.

Garbutt + Elliott's capital allowances service, a team dedicated to helping companies claim tax allowances, advised The Helmsley Group to recover the funds on two two properties recently bought in York.

Jeremy Oliver led the Garbutt + Elliott team - formed in May 2016 - which helped carry out the claims on Mill House, an historic granary warehouse now occupied by North Yorkshire Police, and East Coast House, the headquarters of Virgin Trains East Coast Mainline Company.

Mr Oliver said: "Our blossoming relationship with The Helmsley Group enabled us to work closely with the organisation to make considerable tax savings for its syndicate members, in relation to Mill House and East Coast House, which represent two recent purchases of York’s prominent commercial office buildings along the River Ouse.

"It’s great to be able to support our clients in this way and make considerable savings. We look forward to working with the group further in the future on both the existing portfolio and further acquisitions."

The tax savings were made through Capital Allowances, which can be claimed on internal fixtures including plumbing, heating and air conditioning, alarms and emergency lighting, and can be as high as 40 per cent of the building cost.

Ian McAndrew, director The Helmsley Group, said: “We enjoy working with Garbutt + Elliott as the firm’s tax team is on hand locally and are proactive in their advice and support. This is especially true with the capital allowances claims we have worked on together, and the considerable savings they have made for our clients.”

Rob Durrant-Walker, head of business tax at Garbutt + Elliott, said: "In these examples, the Helmsley syndicate members will save tax of between 19 and 40 per cent from these allowances.

"As well as working with clients once they have a property, we work with many through the purchase and sale of properties to help with potential capital allowances claims at each stage."