Property and land tax
Most businesses are affected by property tax one way or another, whether as owners or occupiers, developers or investors. The taxes are complicated and there are significant differences in the way tax is deductible or allowed. We can advise on all areas of property tax, and ensure you avoid paying too much.
Stamp Duty Land Tax
Stamp Duty Land Tax (SDLT) can be a significant cost to many individuals and businesses, as many land and property transactions have SDLT implications. Following the recent changes to the SDLT tax rates it is more important than ever to get professional advice and find the right solution for your circumstances.
The legislation around SDLT is complex but our advisers are well placed to provide clear advice to help achieve your commercial objectives.
How we can help:
- Completing SDLT returns
- Advising on all eligible reliefs and making use of all available exemptions
- Planning to minimise future issues with HMRC
- Negotiating with HMRC in disputes and representing in SDLT disputes and enquires
- Supporting solicitors with SDLT matters
Capital Allowances
If you own or lease property for commercial purposes you could be entitled to claim capital allowance tax relief for the cost of its fixtures (e.g. central heating, electrical wiring, lifts, fire safety equipment etc).
We can investigate the value of your claim, and in some cases the cost of the fixtures can be 50% or more of the total cost of the building. This could mean a tax refund, a reduction in your future tax liability or both. We’re experts in identifying tax savings and investigating whether your claim is really worthwhile. We have a complete understanding of the tax system which allows us to maximise the tax relief for your individual circumstances.
How we can help:
- Reviewing your purchase contract to establish your entitlement to claim
- Surveying the property to identify the relevant fixtures and determine their value
- Calculating the tax relief you are entitled to claim
- Providing you with our written report in support of your claim
- Submitting your claim to HMRC on your behalf
Annual Tax on Enveloped Dwellings
Annual Tax on Enveloped Dwellings (ATED) is an annual tax charge which can apply if a UK residential property valued at over £500,000 is owned by a company, collective investment scheme or partnership with corporate partners.
While certain reliefs are available, an ATED return is still required in order to claim the relief. We can advise on investing in or disposing of residential property, or assist with filing your ATED return.
VAT
The VAT risks associated with property transactions are high. We have a specialist team that can ensure:
- Obtain zero and reduced rates of VAT where applicable
- Any VAT consequences within the structure are minimised, considering the type of property, renovation plans and the option to tax
- Stamp duty implications for future disposal are considered within the scope of all decisions made relating to the property.
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