Whether you’re new to property investment and are planning to build a property portfolio or already have a large portfolio of properties, we have the experience and expertise to help build and preserve your property empire.
Our goal is to minimise the tax you pay on your property income, to ensure you are trading with the best business structure and to aim for as much as possible of your wealth to be preserved and passed on to the next generation.
Our property investor/developer clients typically choose this type of investment to give them a source of income as well as a healthy growth in investment value. They consider their property portfolio as their pension pot or they have inherited property which they add to their investments.
Many of our property clients are also property developers; buying and selling properties for profit.
Property is an area of possibilities but is fraught with potential pitfalls. VAT and Construction Industry Scheme (CIS) are often overlooked by property owners as they assume that:
- All sales of property are VAT exempt
- Labour should always be paid without deduction of tax.
But this isn’t the case; new builds, conversions from commercial to residential, conversions of a premises to different residential use, and properties empty for 2 years all have opportunities for substantial VAT savings. Anything out of the ordinary warrants a closer look.
If you undertake property development then you will need to operate a CIS and potentially deduct tax from any supplier who provides labour on your sites.
Other pitfalls for property owners include:
- those who incorrectly assume that the profits they generate on a development sale will be liable to capital gains tax (CGT) and not income tax
- those who assume that they are entitled to reliefs such as principal private residence when they are not.
We care about providing the service you deserve. We’ll provide you with unbiased practical tax advice that means you avoid the tax traps. Each client has their own personal tax manager and main point of contact to assist you with:
- annual tax returns
- tax payment forecasts
- advice on the new mortgage interest rules and how to minimise the impact
- advice regarding the most appropriate structure for your rental business going forwards, i.e. sole owner, partnership, LLP, limited company
- advice on ways to reduce your income tax liabilities, including ensuring that you claim for everything you are entitled to
- advice regarding the best way to finance your properties and referral to a mortgage adviser if required
- capital gains tax advice, calculations of capital gains tax due on historic sales of properties and projections for planned future sales
- specific property investment advice, such as HMOs, Furnished Holiday Lettings and Commercial Property
- VAT advice and opportunities
- advice and assistance with the operation of your construction industry scheme (CIS) if applicable
- all the latest tax news and tips for property investors/developers.
At Friend & Grant our focus is your property portfolio and how to make it work for you, whilst reducing tax burden. Our 60 minute Discovery Meeting is available to property investors and developers. Call Jan Friend on 01634 731390 to make an appointment.
Perhaps you’re not ready to have a chat right now. If so, we’d like to offer you an opportunity to access our Property Investors & Developers Email Program. Our aim is to get you thinking about your portfolio and future plans with a series of videos and articles which we’ll roll out to you over the coming days free of charge with our compliments. The only cost to you is your email address so that we can send you the links.