Property accountants

Property accountants for landlords, investors and developers

Investing in residential and commercial property is now commonplace. However, the legislation around expenses, allowances and reliefs is a constantly shifting landscape that requires careful consideration, especially when it comes to tax.

Tax planning for landlords

We help landlords with their tax planning requirements, and represent a wide spectrum of property owners who are using property to produce income in a number of ways including –

• The ‘Room to Rent’ scheme
• Holiday lets
• Buy-to-let portfolios (including HMOs) used for pension purposes
• Multiple property blended portfolios (mixing residential & commercial properties and land)
• Family investment companies used as part of inheritance tax planning

We help keep landlords on track with what costs and expenses they can claim, and how to maximise allowances to minimise the impact on their income tax liability.

The best structure for your property business

We have considerable experience in helping property investor clients to structure their portfolios effectively according to their circumstances and goals. This might mean creating a limited company due to the way that mortgage interest is treated within them and the fact that corporation tax and dividend tax rates are lower than the income tax rate for higher-rate taxpayers. As with anything tax related, there will be advantages and disadvantages which makes seeking expert advice so critical to determine whether buying property through a limited company is tax-efficient for individual circumstances.

Other tax issues

Property developers are likely to be affected by the Construction Industry Scheme, where they subcontract work. You need to ensure that the correct amounts are deducted from the subcontractor and are reported and paid to HMRC. We can assist with compliance and record keeping for this. Gains on disposals of residential properties in the UK which generate a capital gains tax liability require to be reported to HMRC within 60 days. This is often overlooked but we can calculate the gain and assist with the reporting to HMRC.

Tax advice for property investors

There are many elements of UK tax that need to be considered when dealing with property. With years of experience accounting for and advising clients industry-wide, we pride ourselves on understanding the problems faced by landlords, developers and investors, and developing effective solutions for property beginners and veterans alike.

Free initial consultation

If you would like to discuss your property matters with an experienced property accountant and find out how we can help you, please ​email Alan Mitchell at amitchell@thomsoncooper.com or call 01383 628800.

 

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