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Property tax in the UK has undergone considerable change in recent years, and tax liabilities have increased for both property investors and property developers.
In fact, property tax as a share of total taxation is currently higher in the UK than anywhere else in the developed world.
Property tax can be an extremely complex area, and the amount of tax you end up paying will depend on a number of variables; from the type of property you own, to the structure used to hold your property assets to the transaction itself; whether that’s an acquisition, disposal or development.
At Enterprise Tax we have extensive experience of advising both property investors and developers on all aspects of property tax and structuring, including Stamp Duty Land Tax, VAT and capital allowances. Whilst the taxes I have just mentioned are perhaps the more obvious property taxes, it is important that the related exposure to both Inheritance Tax and Capital Gains Tax is not overlooked. As Chartered Tax Advisers we always take an holistic approach to our property tax advice. Whilst reducing your income tax liability in the medium term, for example, may bring about some significant tax savings, this may need to be balanced against a significant SDLT liability which may arise as a result of a particular course of action.
We work with private individuals, companies, pension funds and private equity funds in sectors ranging from leisure and tech to health and construction.
Non-UK domiciled individuals and non-UK residents have perhaps been hit more than most by the recent changes, and again, this is where we can add value for our client, as we have significant experience in advising those with cross border issues in relation to their property assets.