Property investment can be viewed as a means of generating additional revenue; creating capital growth for tax efficient gains; a pension asset; or as a means of distributing wealth and assets. Recent changes in the tax treatment of properties has had a significant adverse effect on property investors.
Dundas | Gallagher provides compliance services around property investments across various tax jurisdictions, as well as working alongside clients to assist with portfolio management and planning.
Property owners should be aware that there are different tax treatments for different properties. We would encourage clients to consult us in advance of purchasing properties to facilitate appropriate planning which can lead to significant tax savings.
Property Owners Should Consider:
Is the property for residential or commercial purposes? Note: there are specific rules for furnished holiday lets.
Do any aspects of property purchases or renovations qualify for capital allowances?
Have you considered the benefits of trading as a company or partnership for property investments?
Confirm whether there is an option to tax on the property which has significant VAT implications.
Have you considered the additional cost of stamp duty?
Contact us to learn more and discuss your business needs.