Property & Development
Property accounting services
As clients become successful and start making more than they are spending, they often begin investing in property. Although yields may be low now, historically property has shown long term strong both investment performance and growth, and whichever way you look at it, investing in property feels more hands on and positive, than the disengaged feel of investing in the stock market, for the majority of people.
The choice has become wider, from commercial to residential, to houses of multiple occupancy to serviced accommodation. The search is on to make a return on your money.
There have been large changes in stamp duty land tax, interest relief for private landlords as well as changes in how other expenses can be claimed, and landlords and future landlords realise that now is the right time to review their tax affairs and optimise their tax position. This time more than ever before, it is necessary to obtain strong, measured, well thought out tax advice from an experienced property specialist.
At JLA our tax and accounting team have experience in helping find the right solutions, solutions that can make a real difference to you.
For example, if you can get an 8% return, by taking account of one of our tax plans, we can, over a 10 year period, double the value of your investments, double the return, half the tax and potentially significantly reduce or virtually eliminate inheritance tax. This is only the effect of a well-planned tax structure. The constant in this calculation is the investment return. What is there not to like about it?!
Forgotten to report your rental income?
We are also used to potential clients coming to see us with poor memories. Potential clients who have forgotten that they have rental income when it comes to their tax returns. We work with you to bring you up to date, to help reduce penalties as far as possible, and tidy you up for the future. The comments we have got, is that it’s never as bad as it seems, if it is well managed and planned for, you can go forward and get on with your life without always looking behind you.
'Proactive' is over used, but we have immense experience in this area, we own investment properties ourselves, are regular speakers at property events, and can add great value to you and help your structure your investments from a tax point of view
Typically, we advise on:
Changes in tax relief for mortgage interest
Stamp Duty Land Tax matters
Restructuring your portfolio
Capital gains tax planning
Dealing with HM Revenue and Customs enquires and investigations
VAT planning for new developments
Inheritance tax friendly structure
Planning for exchange controls should there be a Corbinite government
Uses of trusts and pension schemes to hold property