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We have many clients who rent out residential and commercial property. We are able to advise landlords on the tax position of their properties, the expenses that can be offset against rental income, and planning to reduce capital gains tax when the property is eventually sold.
With all the recent hard-hitting tax changes, such as the new mortgage interest restrictions for higher-rate taxpayers, the removal of the popular 10% wear & tear allowance, 'ATED' (the annual tax on enveloped dwellings) where certain residential properties are held in a limited company and also the stamp duty land tax (SDLT) increased rate on the purchase of additional properties - it is now more important than ever to take professional advice.
For commercial property the maximisation of capital allowances on the acquisition of a commercial freehold property is very important these days with a 100% initial allowance and annual allowances being deductible from the gross income. Also types of expenses and the manner in which the property is financed will also give rise to tax breaks if handled correctly.
We can advise on the tax and accounting implications of the following:
With all the recent hard-hitting tax changes, such as the new mortgage interest restrictions for higher-rate taxpayers, the removal of the popular 10% wear & tear allowance, 'ATED' (the annual tax on enveloped dwellings) where certain residential properties are held in a limited company and also the stamp duty land tax (SDLT) increased rate on the purchase of additional properties - it is now more important than ever to take professional advice.
For commercial property the maximisation of capital allowances on the acquisition of a commercial freehold property is very important these days with a 100% initial allowance and annual allowances being deductible from the gross income. Also types of expenses and the manner in which the property is financed will also give rise to tax breaks if handled correctly.
We can advise on the tax and accounting implications of the following:
Property tax specialists
O
Residential lettings
O
Commercial property
O
Furnished holiday lettings
O
Rent-a-room exemption
O
Flat management companies
O
Letting agents
O
Overseas properties
Helping local businesses to grow and pay less tax | Small enough to care
