Property: specialist financial advice

One of the key issues that we advise on is property ownership structure. We will consider your short- and long-term requirements to ensure your net return on investment is maximised whilst also realising your commercial objectives. We also advise on existing structures to ensure they continue to maximise returns.

An inner-city construction site

Our specialist Property Group works with property investors, developers, construction firms, housing associations and businesses such as letting and estate agents, architects, surveyors and property consultants. We ensure they understand the continually changing tax regime and that their commercial position is maximised.

Our multi-disciplinary team and proactive approach means that we will take time to understand your business and objectives, and provide you with a team of tax and accounting professionals to successfully achieve your aims.

Examples of the areas we can assist with include:

  • Capital allowances
  • Tax planning and structuring
  • Property taxes
  • Accounting and tax compliance

Capital allowances are often overlooked despite the tax relief available. Our property team includes capital allowance specialists who seek to identify tax relief opportunities including:

  • Advice on contract negotiations for sellers and purchasers
  • Preparation of detailed capital allowance reports, claims and elections for new builds, refurbishments and the purchase of second-hand properties
  • Business Premises Renovation Allowances – 100% relief on refurbishing disused premises located in designated areas
  • Land Remediation Relief claims – 150% relief on costs relating to the remediation of land and buildings.

Commercial and residential property transactions have a myriad of tax implications. Below is a summary of some of the areas in which we can assist you.

VAT on land and property
VAT on land and property is an extremely complex area.

  • VAT treatment on conversions from commercial to residential and renovations of listed buildings.
  • What VAT can be recovered?
  • Should VAT be charged on a property transaction and the interaction with SDLT/ LBTT.
  • VAT registration and should you opt to tax.

Stamp Duty Land Tax (SDLT)/ Land and Buildings Transaction Tax (LBTT)
There have been major reforms to the SDLT and LBTT regime in recent years and we can provide clear, commercial and expert advice in the following areas:

  • Interaction of SDLT and LBTT
  • Multiple dwellings relief
  • Additional dwelling supplement
  • Annual Tax on Enveloped Dwellings (ATED)

Cashflow, forecasting and financial reporting are essential for any business, not just property businesses.

We can assist you with accounting and tax compliance – our specialist team has a thorough understanding of the sector and will ensure the compliance is in line with any ongoing tax planning. We will also make practical suggestions and identify potential opportunities (where relevant).

Some of the areas we can assist with include:

  • Project appraisals and finance – we can appraise proposed development and investment projects and advise on suitable financial structures.
  • Outsourcing – we can provide assistance with accounts, VAT, payroll and CIS, and can provide a full outsourcing service tailored to your specific requirements.
  • Audit including property service charge audits.
  • Tax investigations

Llanelli Railway Goods Shed Trust

“I am very happy to endorse Chiene + Tait. We have received invaluable advice from them regarding VAT issues. They have been very thorough and efficient throughout and have acted on our behalf in dealing with HMRC. They identified major savings on the VAT on the capital cost which has enabled our project to move forward.”

Neil Sutherland, MD, Makar

“We were introduced to Chiene & Tait in relation to an R&D tax credit application to HMRC and to say were were delighted with the outcome is an understatement. The specialist service provided made all the difference for a very successful claim and subsequent financial payout. Since this initial experience we have not hesitated in working with Chiene & Tait in subsequent years with continued success. I would reconvened their services to any progressive organisations engaged in R&D activities.”

Martin Nadin, Chief Executive, Scottish Veterans Residences

“They are well-informed about the charity and third sector. Their performance has been seamless, runs on rails, and their size allows them to provide us with a personalised service.”

Chris Wright, Founder, deltaDNA

“We have especially liked Chiene + Tait’s approach: they have always taken a long-term view, working with us to make sure we correctly allocate R&D and show to HMRC the reason each project is valuable research. This has allowed us to successfully secure the tax credits with the minimum of fuss and the confidence each year to invest. I cannot rate Chiene + Tate highly enough. Having worked with other firms during the years on R&D Tax Credits, Chiene + Tait are by far the most professional, easiest to work with and ultimately the best at maximising the value back to the company.”

Tabatha McCree-Cox, Tarbraxus Distillers

“Chiene + Tait offered that expertise which is really important. They have a very friendly team. For example, Kerry on the VAT side has been really good, very detailed: she sets out the information very clearly along with what needs to be done. They are so much better than the previous firm we used.”

Richard Cooper, CEO, Novosound

“Novosound chose to engage with Chiene + Tait for specific tax advice prior to commencing its spin out. We chose C+T due to their deep knowledge of tax treatment with respect to share issues at company formation. This knowledge was exceedingly useful before and during the spin out process. The firm was easy to deal with and when a particular issue arose at the 11th hour, they dropped everything and developed a practical solution that suited all parties. All together C+T are a great firm to work with.”

Bruce Weir, Director, CW Properties

“Chiene + Tait have been excellent to deal with over the last ten years, with clear robust advice on all aspects of our company work. They really do think through solutions to provide best advice at all times.”

Gillian Brown

“They are efficient and I’ve found the people to be easy to work with. They are very transparent in their approach, and always very quick and professional in their responses. I do regard them as a trusted adviser.”

Karen Stark, Head of Finance, Care Visions Group

“Chiene + Tait have provided Care Visions with a professional service from the start: the set-up and parallel runs gave me so much confidence in the decision to outsource. The team at Chiene + Tait are always professional, extremely helpful and reliable.”

Enable Scotland

“As an organisation, we have had a hugely positive experience working with Chiene + Tait. The firm is easy to work with, flexible and promotes a real sense of confidence in their work and advice.”

Barry McCorkell, Director, Aubrey Capital Management

“I had no hesitation in asking for advice from the Chiene + Tait team when HMRC selected us for an Employer Compliance Review. Having longstanding trusted advisers at our side made it a lot easier and a lot less stressful! HMRC’s recommendations were quick to be addressed and adopted so the review, which could have been a challenging and unnerving experience, was instead professional and efficient. I would have no hesitation in recommending the C+T team to anyone in the future.”

Neil Wilkie, COO, Mironid

“We have been delighted to work with Chiene + Tait on our R&D tax credit claim over the past few years. The guidance and professionalism of the C+T team has resulted in a smooth submission process with a concomitant successful outcome. I’d highly recommend their services.”

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