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
  • A digger excavating a site

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.
  • An inner-city construction site

 

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)
  • A row of houses in Edinburgh
  • Differently-coloured houses in a block

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
  • A builder climbs up a ladder against a wall
Tax planning and structures

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.