Property transactions can impact on a wide range of taxes and have implications for individuals and businesses. A sound structure and effective tax planning provided by property tax specialists, endorsed by experts in the sector, can help to navigate this minefield.
Property ownership structure
An initial decision needs to be made whether to purchase the property:
- as an individual
- as a joint owner or via a partnership (often with a spouse)
- via a company.
There are significant differences in the tax effects of ownership by individuals or a company.
Deciding on the best medium will depend on a number of factors.
Minimising your tax liability
Our property tax specialists can advise on:
- Taking advantage of all allowable expenses to minimise your income tax bill
- Minimising capital taxes by applying reliefs such as principle private residence relief, annual exemptions, entrepreneurs’ relief, incorporation relief and business property relief.
- Stamp Duty Land Tax (SDLT) – understanding which rates apply
- Capital allowances, for example, during refurbishment
- Maximising recoverable Value Added Tax (VAT)
- Inheritance tax planning
- Annual Tax on Enveloped Dwellings (ATED)
- Non domicile property tax issues
Being the subject of a tax investigation or enquiry by HMRC can be stressful and worrying. We have a wealth of experience in dealing with HMRC investigations and can provide expert help and support.
We also provide a fee protection service through which our fees for answering and defending HMRC enquiries are covered.
Our FAQs are a useful introduction and may answer some of your more straight forward questions. Our blog will also keep you up to date with relevant changes. Our factsheets will provide more detailed information.
Contact us for a free initial discussion today regarding a tax efficient structure and effective tax planning for your property investments.