Investing in property
Owning rental properties has over the years become a popular as it is considered a way to achieve a reasonable return on an investment as well as enjoy capital growth.
It is often planned as a way to provide a pension for retirement that is under your control rather than being directly influenced by stock market fluctuations and tied into a pension scheme.
Work related relocations have also created accidental landlords as people rent their homes out while they live closer to their work.
Many of our clients are individuals who own rental properties and therefore receive our property tax advice and compliance services and we also have a variety of business clients with investment properties, ranging from surplus premises to large property portfolios.
Property income usually needs to be declared to H M Revenue and Customs and our aim is to ensure your tax liabilities are minimised by advising on the best property ownership and financing structure and on the relevant claims and reliefs available.
Investing in commercial property can be complicated by vat so advice before committing to an investment is crucial. A commercial property can be of interest to trading companies as an alternative to renting or investors seeking to buy a property personally or through their pensions funds.
Also, bear in mind that furnished holiday lettings are subject to their own rules and need special consideration.
The sale of a property that has been rented out usually needs to be declared to H M Revenue and Customs and our work ensures that capital gains tax liabilities are kept to a minimum. Some tax planning measures need to be undertaken before a sale of property takes place so make sure you contact us early in the sale process. Similarly, if you are looking to pass property to your children, we hope you will speak to us first about the tax implications and how to mitigate them.
Require more information?
If you would like more information or would like to speak to us direct then call us on 029 2038 8218. Or if you would prefer, ask us a question online.