Property & Construction
Whether you are buying, renting, investing in or building a property, there can be complex tax issues to consider. The right advice can help to simplify your tax obligations.
As you no doubt know, the three golden rules of property are location, location, location.
We think there should be a fourth golden rule: when you buy a property, get tax advice.
That's because, first of all, even so called 'small' deals involve several thousand pounds. And when it comes to new developments, commercial investments or construction projects the numbers can be enormous.
Tax on property can be complex. How you hold a property and how you structure a deal can have a huge impact on the amount of tax you pay and the money you make.
Our clients include:
- Property dealers and investors (including through pension schemes).
- Commercial and residential landlords.
- Buy-to-let investors.
- Non-UK resident investors.
- Property professionals such as surveyors, architects, consulting engineers.
The construction industry plays a big part in the UK economy. The sector is worth about £90b a year and employs around 10% of the country's workforce.
More often than not, construction projects are complicated. They can involve large sums of money and any number of contracting parties. As a result, it is crucial that you get the right advice on the structure of your projects and their tax implications.
Our clients include:
- General construction contractors.
- Larger private and commercial construction companies.
- Construction project management.
- Construction engineers.
Other things to consider
We can advise you on:
- Choosing the right structure: company, limited liability partnership (LLP), partnership, sole trader, single purpose vehicle (SPV), offshore
- Tax: corporate, income, national insurance, capital gains tax, Stamp Duty Land Tax, VAT
- Construction Industry Scheme (CIS) rules for handling payments made by contractors to subcontractors
- Annual Tax on Enveloped Dwellings (ATED)
- Raising finance through debt, equity or venture capital
James Taylor, Director Edgar Taylor
"We contacted Clark Howes through a referral a number of years ago when the business was planning a de-merger. Clark Howes supported us in the de-merger and have been our accountant ever since. We have the confidence that Clark Howes are on hand to provide a professional accountancy service to suit our needs as the business develops and I would have no hesitation in recommending them."
9th July 2018HMRC proposes to introduce new VAT rules for construction services which are subject to consultation…16th March 2018What is an Annual Tax on Enveloped Dwellings (ATED) return? Corporate entities that own any residential property with a value over £500,000 (valued as at 1st April 2017), need to submit an annual return on HM Revenue & Customs known as an Annual Tax on Enveloped Dwellings (ATED) return…28th January 2018We have been made aware that there are higher than normal numbers of scam emails hitting the inboxes of our clients and contacts…
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