Whether you are buying a second home or growing your buy-to-let portfolio, our property specialists are at hand to make sure that your investment is structured to deliver the best return and efficiently manage your tax liability.
Our services include:
- Advising on ownership: depending on your long-term objectives, we work with you to determine the best vehicle through which to own your property, be it a trust, a company or personal ownership.
- Tax: our residential property tax experts advise clients on the many tax related considerations which apply to these investments, taking into account ownership and residence and domicile matters. We can help you determine your liability, structure your affairs to minimise Inheritance Tax and ensure you take advantage of relevant capital allowances.
- Inheritance Tax on property investments (IHT): the estate of anyone purchasing property in the UK is liable to IHT upon death. UK IHT is applicable regardless of the domicile or residence of the person owning the property in the UK. IHT is levied after an exempt threshold and reviewed annually in the Chancellor’s Budget.
- Stamp Duty Land Tax (SDLT): payable on most residential land transactions. The onus for assessment falls on the purchaser. The rules for leases are complex and purchasers or tenants should obtain advice at the earliest stage possible to ensure the effects of this tax can be managed.
- Capital Gains Tax: if a profit is made on the resale of a property that is not a principal private residence, CGT applies on the gain in value. There are significant differences in the tax effects of ownership by individuals or a company and the best medium will depend on a number of factors.
- Taper relief: the application of Business Assets Taper Relief can make personal investment in commercial property a tax efficient option. We are able to advise on the most effective solution for you, based on your needs.
Principal Private Residences
Owning a UK property that is a principal private residence allows exemption from Capital Gains Tax on resale. However, there are still important taxation decisions to be made regarding Inheritance Tax and Estate Planning. Our specialists are able to advise on the best solutions to suit your needs.