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As your property portfolio develops and grows, it can become more difficult to manage. Add to this the changing tax legislation and process of meeting your property goals can become challenging.
There may be issues that you have not yet considered or reliefs that you have not taken advantage of. For example, the difference between repairs, maintenance and improvements with respect to occupied properties is very complex.
Our property specialists can ensure that you continue to meet your tax obligations and only pay the tax you need to.
Furthermore, we can help with the expansion and consolidation of your property business. You may be considering different types of rental property such as HMO’s or joint ventures and other ways to fund projects. With expert property advice you can structure your affairs in the most tax efficient manner.
Another growth option is to diversify into furnished holiday lets (FHLs). This market offers some important tax advantages. The finance cost restriction, for instance, does not apply to landlords of FHLs. Our factsheets provide useful information on this and more.
See our property tax and property accounts sections for more details on these areas.
Our team of property tax specialists would love to help you climb the buy to let property ladder and reach your property goals. Contact us for a free initial discussion today.
29 Jul 2020
Currently, unless you are non UK resident, you report your capital gain on residential property via self assessment by 31 January following the end of the tax year of disposal and any tax due at that point.
26 Jul 2020
If you own property via a Limited Company, particularly with non family members this is essential.