Did you know that the right property tax advice could save you money on your next tax bill? Meeting your obligations as a landlord or property investor can be expensive, but our tailored tax advice can help minimise your liabilities.
If you want to get more out of your rental properties, we’re here to help. Here’s how our property tax advice can reduce what you need to pay.
Draw up a great tax strategy
The key to reducing your liabilities is a solid tax strategy, no matter the size of your business. However, it can be difficult to find the time to look at every aspect of your property taxes.
No two businesses are the same, so we’ll sit down with you to work out where we can help you save costs. Once we know your property business inside and out, we’ll be able to draw up a tax plan that works for you.
Property sales
If you’re selling a property, you can rely on us to leave no stone left unturned. We’ll help you minimise your capital gains tax (CGT) bill. That means advising you on the reliefs and allowances you’re entitled to, as well as looking at your past business transactions to see what you can claim.
Property purchases
When it comes to buying property, we’ll advise you on property taxes such as stamp duty land tax (SDLT) and what you may expect to pay. With a greater understanding of your liabilities, you’ll be able to make better-informed business and budgeting decisions.
Rental income
Our specialised advice for landlords may help you retain more of your profits from rental income. With access to expert advice, you’ll be able to claim the right expenses on your self-assessment or corporation tax returns.
If you want to maximise your savings, you may want to access our bookkeeping services as well. As qualified bookkeepers, we’ll be able to accurately record your business transactions, making it easier to claim your allowable expenses on your tax return.
Depending on the nature of your business, you may even be exempt from certain kinds of property tax. Whatever your situation, we’ll help ensure you don’t pay more than you need to.
Find the right business structure
Is it better to work as a sole trader or incorporate your property business? Should you buy a rental property through a limited company or as a private individual? There are pros and cons to each option, and it’s important to find a solution that works for you.
As property tax accountants, we can identify the most cost-effective, tax-efficient structure for your business.
Bespoke property tax advice
With years of experience working with a variety of property businesses, we’re well-positioned to handle more complex taxation needs. So don’t worry if you have a large property portfolio or multiple income sources — we’ll tailor our tax advice to your unique circumstances.
When you work with us, you tap into our years of property tax experience. We know how to ensure you pay the right amount of tax – no more, no less – to help you become as profitable as possible while staying compliant.
At Harries Watkins Jones, we believe in keeping you informed at all times. If you have any questions about your business, properties or liabilities, we’ll always be a call away – and we’ll keep you updated with any future changes to legislation.
Get in touch to find out how our specialist property tax advice can keep your liabilities to a minimum.
