Property tax can be complex and obscure and is often vulnerable to change; however, with property ownership widespread in the UK, the tax matters that accompany this are an important consideration for many individuals as well as for the many businesses that are borne of the property industry.
Because of the intricacies, effective property tax planning can prove challenging for those investing in, developing or managing one property or a portfolio of properties.
We recognise the various challenges associated with property-related ventures, which is why we have an in-house team of experts, spanning Bedfordshire, Hertfordshire and Cambridgeshire, ready to give you the property tax advice that you require.
If you are a property developer, or if you are considering developing property sometime in the future, it is essential that you have access to well-considered property tax advice at every stage of the development process.
Our specialist team have years of experience in providing integrated solutions to property investors, developers, house builders and building contractors.
With close links to property and land agents and an unparalleled knowledge of the tax implications associated with the construction industry, we can offer you and your business the sound advice and support you need to make your venture a success.
Working with George Hay, you will have access to advisers who understand your challenges and appreciate that no two developments are the same.
Property investment is an opportunity that appeals to many business owners and individuals.
Commercial property needs in the business and manufacturing sectors combined with an increasing population, more transient working patterns and the difficulties facing first time buyers who are looking to get on the property ladder, have given rise to a ready supply of tenants who are willing to rent.
No matter how the property market might evolve, keen landlords and property investors will continue to exist. We can support you whether you’re thinking about taking those first few steps or whether you already have an established portfolio.
As with any business, tax is a key consideration and we know that recent changes to property tax legislation have hit landlords and investors hard. However, this is no reason to give up on your property aspirations; we can support you throughout your venture and assist you with proactive and effective property tax planning – identifying and taking advantage of opportunities to minimise your property tax liabilities and maximise your return on investment.
If you own either commercial rental property or residential rental property in the UK but your usual home is outside the UK, then the Non-Resident Landlord Scheme (NRLS) will apply.
You are considered a non-resident landlord if you reside outside of the UK for six months, or more, each year. This applies regardless of whether you are regarded as a UK resident for tax purposes.
If you are a non-resident landlord and you receive rental income from UK property, it is essential that you understand your tax liabilities and comply with the legal obligations as dictated by your circumstances; something our experts can help you to do.
Whether you are a developer, investor or landlord and whether you are looking to expand, diversify, consolidate or re-organise your property portfolio or business, we can provide considered property tax advice designed to minimise your tax position and maximise your investment.
We can advise on the following, plus much more:
- Capital allowances, for instance, during property refurbishment and development
- Property ownership structure
- Capital Gains Tax (CGT) planning advice
- Revenue tax relief and tax efficient funding
- Land remediation tax relief
- Stamp Duty Land Tax relief
- Inheritance Tax (IHT) planning advice in relation to inherited property
- Maximising recoverable VAT
- Property tax related negotiations with HMRC
- Non-domicile property tax issues