Property tax

More people are investing in property than ever before. Whether you have a second home in the countryside, a property abroad or a buy-to-let portfolio, the Hawsons tax team can help with your property taxes.

Our specialist property tax team can help with:

The preparation of property accounts
Calculating property tax
Advice on ownership structure
Capital Gains Tax planning
Appropriate reliefs and allowances

When it comes to property tax, there are lots of things you have to consider, including capital allowances, VAT and Stamp Duty Land Tax (SDLT). We can help you to effective manage your tax liabilities for your commercial property.

Stamp Duty Land Tax (SDLT)

SDLT is a significant issue for property developers, buy-to-let landlords and investors seeking to maximise profits and achieve costs inefficiencies on projects.

Our property tax experts can analyse your individual situation and help minimise the effects of Stamp Duty Land Tax when purchasing buy-to-let properties.

Find the latest Stamp Duty Land Tax rates here.

Land Remediation Relief

One area that is often overlooked in a company’s tax computations is the ability to claim Land Remediation Relief (‘LRR’). This relief applies where a company acquires contaminated or derelict land or buildings for the purposes of a trade or property business and spends money on removing contamination.

Land Remediation Relief – details and examples

Buy-to-let landlords

If you are a buy-to-let landlord managing a portfolio of properties you can often be subject to unexpected tax bills. Our property tax advisers are fully up to date with the latest tax legislation regarding buy-to-let properties. We will ensure that you are kept fully updated with the latest tax legislation and we will advise you on how to minimise your tax liability on your portfolio.

Capital allowances

Capital allowances are a valuable form of tax relief available to individuals and companies owning commercial properties. Whether you are constructing a new property, purchasing, or expanding an existing property, you must seek to maximise your capital allowance claims. HMRC have made significant recent changes on capital allowances that could influence your decisions on buying business assets.

Should a client face an enquiry from HMRC into their tax return and accounts, a common area that is reviewed is any deduction that may have been claimed in the accounts for repairs and renewals. This arises because whilst a repair to an asset is an allowable item of expenditure for tax purposes, if the asset is altered, improved or replaced the expenditure is capital expenditure and is not allowable. Capital allowances may or may not be available on this capital expenditure.

Contact us for a free initial meeting

To find out more about how one of the leading firms of accountants in Sheffield, Doncaster and Northampton can help you, please contact one of our specialists. We believe in long-term client relationships and understand the importance of meeting to establish that you like us and we like you. This is why we offer all new clients a free initial meeting which will enable you to have a discussion about you and your business issues.