PROPERTY TAX

EXPERTS IN BRICKS & MORTAR

Property is one of our specialities and passions, having been providing property tax advice in Cambridge & Ely for over a decade. We work with everyone from ‘accidental landlords’ all the way through to serial investors and property developers.

You will receive clear cut advice, illustrating the tax savings available and optimal ownership vehicle for your property investments & developments.

BUY TO LET LANDLORDS

If you are a full-time landlord or have inherited a property that you now rent out, TFA are on hand to manage annual compliance and make sure your tax position is optimised.

Working with landlords in the ever-changing tax climate, we will consistently review your position and advise how your current and future tax position can be improved. The tax advice we provide for landlords includes:

  • Personal tax returns
  • Ownership review and tax impact
  • Inheritance Tax review
  • Capital gains tax calculations & 30-day CGT reporting
  • Use of Family Trusts
  • Incorporation of property portfolio

CAPITAL GAINS TAX ON PROPERTY SALES

If you have sold a residential property in the UK (or any UK property if Non-UK Resident), you will need to consider if a CGT Return and tax payment to HMRC is needed within 30 days of completion.

We can help ensure you claim all available tax reliefs on sale and, prior to a disposal, will advise if any planning can be done to reduce to your tax exposure.

Use our fixed price 30 Day CGT return service found here.

LIMITED COMPANIES FOR BUY TO LET

Using Limited Companies (also referred to as Special Purpose Vehicles, SPVs) for buy to let investments has become more popular since April 2017, when HMRC introduced rules to restrict tax relief on mortgage interest payments for personal Landlords.

At TFA we can advise you of the most efficient ownership option for your investment properties, to include bespoke share structures if a Limited Company is used. There are many factors to consider when deciding if a Limited Company is right for you, such as:

  • Annual tax on profits
  • Tax relief of mortgage interest payments
  • Funding of property purchases
  • Rate of mortgage interest paid
  • Distribution of annual profits
  • Future property ownership and acquisition/disposal plans
  • Inheritance Tax planning

 

Working with many property companies we also offer great value annual compliance services, such as filing accounts with companies’ house and completing limited company tax returns.

Have you seen our fixed price buy to let ownership review? Click here to find out more.

 

PROPERTY DEVELOPMENT

If you are selling land for development or are building/renovating property yourself, the tax landscape can be complex.  TFA can guide you through this and ensure that you take advantage of any available tax reliefs and structure your property development business efficiently.  Areas we advise on include:

  • Capital Gains Tax on a land sale, to include
    • Business Asset Disposal Relief (previously Entrepreneurs Relief)
    • Main Residence Relief
    • Ownership review
  • Property development ownership structure and tax implications
  • Annual tax & accounting reporting for property developments
  • Assisting with cashflow forecasts for development projects
  • Tax efficient profit extraction from development profits
  • Inheritance Tax planning for potential development land

 

Contact us today to discuss how we can work with you and your property business.