Property Tax Planning
Many individuals have started to purchase buy-to-let properties within a company and are therefore seeking property tax advice. The move away personal ownership was mainly due to the mortgage interest restriction being phased in from the 17/18 tax year. Should you buy a property as an individual or in a company? The answer is “it depends on your circumstances”. Our property specialist tax accountants are here to help.
There are many pro and cons of holding properties individually and in companies. With a ‘no one size fits all approach’, our specialist advisors can assist you with making an informed decision. You should always seek professional advice before purchasing a buy-to-let, as with the 3% stamp duty surcharge it can be expensive to change the ownership. Although there are also reliefs available, which we can be utilised to help mitigate any potential tax charge.