Property tax

If you’ve invested in residential property, either as your primary business or as an additional source of income, you’ll be aware of the complexities of property tax. Our expert property tax advisers will make it all clear and, even better, take the fiddly compliance tasks off your hand.

First and foremost, rental income needs to be declared to HMRC and any tax owed must be paid. This is handled either through your annual personal income tax self-assessment return or, if your property is owned through a limited company, through your corporation tax return. We can take care of this job for you, from calculations to form filling to filing.

We’ll also take the opportunity to look at your tax deductible expenses. For example, you can claim things like letting agents fees, landlord insurance and advertising for tenants as business expenses. The rules around what you can and can’t claim are constantly changing and aren’t always easy to understand – but we make it our mission to stay on top of the latest guidance.

When it comes to taking a strategic approach, we can advise on:

furnished holiday let versus long-term rental
the structure of your rental business – limited company, or not?
tax efficient mortgage structures
making the most of principal private residence election
capital gains tax (CGT) on the sale of a property
stamp duty land tax (SDLT) when you buy.

In the long-term, it’s about ensuring your property works for you now and later in life as part of retirement planning. We’ll also help make sure inheritance tax doesn’t take too big a bite so that those who take on the property after you’re gone will continue to benefit from your investments.