Property Tax

The taxation of residential property has been subject to much change over the last couple of years, making the ownership of second homes and buy-to-let properties much less clear cut and in some cases, imposing penal rates of tax. It is imperative that our clients are advised correctly on these recent legislative changes to ensure Income Tax compliance and to provide advice ahead of property transactions to avoid unexpected tax charges.

Our specialists in property taxation can also help you to determine whether other ownership structures, such as a partnership, company or Trust, may be more tax-efficient for your investment property portfolio.

  • We can advise on the new rules in relation to allowable deductions against your rental income profits to ensure that you claim all allowable expenses whilst being made aware of deductions which are now either restricted or no longer available.
  • Whilst many clients are aware that there may be Capital Gains Tax implications of a disposal of an investment property, they may be unaware that the rate of tax remains higher than for other types of asset. We can help you to plan ahead for this liability by advising on any potential reliefs available and the timing of the disposal.
  • An often overlooked tax in relation to investment properties is Land and Buildings Transaction Tax ("LBTT"). Taken early, our expert advice can help you to fully understand the implications of the LBTT rules in order to avoid unintended adverse tax charges on the purchase of investment properties.

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