Our Services in this section include
buying and selling property
Buying a property can be one of the most stressful and worrying decisions you may face.
Buying and Selling Residential Property in the UK
When purchasing, you will probably be committing yourself to your largest monthly outgoing, so understanding the complexities of mortgages to ensure you make the right decisions is crucial.
When selling a private residence, where part of your home has been used for business purposes, there may be Capital Gains Tax implications. We can advise you on how to minimise this tax.
Income from any rental property must be disclosed within your personal Income Tax Return each year. We can help reduce income tax payments by providing assistance in calculating the property income assessable for tax, ensuring that any relevant expenditure (such as wear and tear of the premises and mortgage interest) is fully claimed against the rental income earned.
Additionally, you may be liable for Capital Gains Tax when selling your investment property. However, various allowances will be available to you, which we can advise on to ensure these can be used to offset against any gains.
Buying property abroad is more popular than ever. Whether for your own residential use or purely for rental investment, it is vital that you seek professional advice prior to purchasing.
Should you make a qualifying investment abroad, our tax advisors can advise you on every aspect of local taxation, the Capital Gains Tax regime within that country and the best way in which to make the purchase. For example, an offshore company could be advantageous in certain situations.
The income you receive from an overseas investment will be subject to income tax in the UK, as well as in the country in which it arose. This can increase your administrative burden, since you must complete a separate Tax Return in each country. However, generally speaking, you will be able to obtain a tax credit for any tax paid abroad that is deductible against your UK tax liability. We can assist you with this complex and sometimes lengthy process.
For more information or to arrange a FREE no obligation consultation please contact us