We understand the complex tax rules affecting land & property, including Capital Gains Tax (CGT), Inheritance Tax (IHT), Stamp Duty Land Tax (SDLT), and VAT.

Sale for Development

We can provide guidance on the tax planning strategies available, whether you’re looking for a direct sale, option agreement, promotion agreement, collaboration, or a land pooling arrangement.

We work with your other professionals to ensure a joined up approach.

We are expert in maximising the available CGT reliefs, avoiding potential tax-traps, and considering the impact on IHT.

Tax planning well ahead of a sale is recommended for tax efficiency, therefore advice should be sought early.

Diversification

Diversification covers a wide range of both active and passive income opportunities for farmers and landowners and is often essential to the resilience and survival of the business.

Such changes can significantly alter the tax landscape resulting in a loss of reliefs and triggering other potential tax pitfalls.

We can navigate the complex web of multiple taxes that need to be considered and advise on alternative business structures where appropriate.

Ownership Structures

Choosing the right ownership structure for your land and property is essential for tax efficiency and long-term financial success.

Whether you own property as an individual, within a partnership, through a company, or via a trust, each structure has distinct tax implications that can impact profitability, compliance, and succession planning.

We specialise in advising landowners, property investors, and developers on the most suitable ownership structures tailored to their specific circumstances.

Landlords

We specialise in preparing landlord tax accounts, ensuring that all eligible expenses are accurately claimed to reduce your tax liability. From maintenance and repairs to legal and professional fees, we ensure that every allowable deduction is captured, helping you retain more of your rental income.

If you decide to sell a property, we can ensure that any capital gains are correctly calculated and reported, taking into account all allowable deductions to minimise your tax bill.

We can also advise on alternative business structures, such as operating your property portfolio through a limited company.

Incorporation

For many landlords, incorporating a property portfolio into a limited company can offer significant tax advantages. With recent changes to mortgage interest relief, more are considering whether operating through a company is the most efficient structure for their long-term goals.

However, incorporation is not a one-size-fits-all solution and requires careful planning to navigate potential tax implications and traps. The refinancing of any mortgages needs to be considered carefully.

We can assess whether incorporation is a viable option based on your specific circumstances, taking into account income tax, CGT, IHT and SDLT.

Capital Taxes Planning

We are CGT and IHT specialists providing expert tax advice for land and property owners.

Whether you’re buying, selling, gifting, or holding land and property, understanding the tax implications is essential to maximise your wealth and reduce your tax exposure.

We can optimise your tax position and preserve the value of your assets, taking into account your unique circumstances.

We take a proactive approach to capital taxes planning, providing you with tailored solutions that align with your personal or business objectives.

Leases

Leasehold properties, particularly flats, often come with complex tax considerations, especially when it comes to lease extensions.

The process of extending a lease can present a number of potential tax pitfalls. Without expert guidance, freeholders and leaseholders may inadvertently fall into tax traps that could be costly.

When flat management companies are involved in the ownership of a freehold, it’s crucial to establish the exact capacity in which the company holds the freehold interest (this can be outright or as a nominee for the leaseholders), as this can lead to very different tax outcomes.

We are experienced in undertaking the due-diligence required and providing the appropriate tax advice.

60-day CGT returns

Individuals and trustees have 60 days to submit a ‘UK Property Return’ and pay any CGT when they dispose of UK residential property.

Those within self-assessment must also report the property disposal on their self-assessment tax return and give credit for any CGT paid on account.

Similar rules apply for non-UK residents, covering both residential and non-residential property disposals including the disposal of shareholdings in ‘property rich’ companies. Here reporting is mandatory irrespective of whether there’s any CGT due.

We can calculate the CGT, ensuring that all available reliefs (such as Principal Private Residence Relief) are taken into account, and handle the preparation and submission of your ‘UK Property Return’ to HMRC on time to avoid late filing and payment penalties.

ATED returns

The Annual Tax on Enveloped Dwellings (“ATED”) applies to residential properties in the UK that are owned by a company or a partnership involving a company.

If your property is valued at over £500,000 and is held in this way, it is potentially subject to ATED, which is payable annually. The amount payable depends on the value of the property.

However, we can explore the potential exemptions and reliefs available, such as for properties used for rental or commercial purposes, farmhouses, or for properties being developed, which can result in no ATED being payable.

We are finding that despite being introduced in 2013, ATED is still going under the radar for many, resulting in significant late filing penalties that still apply where no ATED is due.