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Property Taxes

When buying or selling property, some of the taxes you need to consider are noted below:

• Income Tax/Corporation Tax including capital allowances
• Capital Gains Tax
• VAT
• Inheritance Tax
• Stamp Duty

Planning in advance will allow the most tax efficient structure to be chosen. However this is generally a balancing act. For example the most efficient structure for stamp duty purposes may be disastrous for capital gains tax purposes and vice versa.

Other considerations include the vehicle for ownership, residency of the owners, whether HM Revenue and Customs would treat the transactions as property investment or property dealing. Consideration must be given to ALL the relevant taxes. This will ensure that that the most commercial strategy is chosen.

At DRE & Co we ensure that the tax aspects of a transaction never override the commercial considerations

It is often the case that some forethought on property transactions saves a lot of heartache and unnecessary tax liabilities in the future.

Let us advise you on the tax implications before you put your plans into action.