PROPERTY AND LANDLORDS

TAX FOR PROPERTY AND LANDLORDS

Most of us either own property or strive to own property. But sometimes, it’s not for us to live in. It might for a business or to provide a personal rental income. It might be a holiday home in the UK or overseas. And when this is the case, there are tax implications. So, tax advice for property and landlords is providing advice on what you should be doing to be compliant and tax efficient.

When it comes to property, tax can get complicated. Over the past five years, the government in the UK has introduced new rules to help first-time buyers get on the property ladder. In doing so, property and landlords – and especially landlords with empty property – have come under pressure. The tax has become more complex. And it’s left a lot of landlords struggling to break even and questioning whether owning multiple properties is right for them.

ARE YOU UP TO SPEED WITH CHANGES?

If you’re a private landlord, it’s now much more difficult to generate wealth than it used to be a couple of years ago. Stamp duty land tax has increased if you buy a second property. And the expenses you use to be able to claim, which appealed to so many, are now worth less. Whether you own a property personally, in a partnership, in a trust or even in a company, you need to be savvier on the tax side of things to make ends meet.

STRUCTURING, COMPLIANCE AND SAVING MONEY

A lot of what we do is providing structuring advice. For example, should you own a property or a group of properties by yourself or as a company or a trust? We’ll look into how the changing rules affect you. We’ll make sure that you pay the right amount of tax and that you’re using the right structures to maximise tax efficiency and save money.

We also help people with property in the UK and overseas get up to speed with the changing rules. If you have a specific tax issue on letting, buying or selling properties, we can help with that too. And our award-winning personal tax team are always on hand to help business owners, families and individuals save money. Is being a landlord working for you at the moment? Taking account of your current situation, we can help you decide that too.