Property Tax Accountant

Property Tax Accountant

The role of a Property Tax Accountant


Investing in propertyhas become a nationalafflictionin the UK over the last 20 years.  Some landlords perhaps owning just one buy to let property, other turning it into a business creating a portfolio of properties.  Many having seen a gap in the market for a shortage of housing have diversified anddecidedto invest in property development projects.Whatever style of investment adopted, one inevitable consequence is that of taxation,be it in the form of capital gains tax, income tax, stamp duty etc.


Over the years the reigning political parties have altered the landscape of capital gains regime on investment properties several times. Such that getting advice froma Property Tax Accountant becomes vital part of the decision making in the final returns of property investment. Whatever type of property investment one is in: landlord holding a single property, or holding multiple properties, even under a shelter of a limited company, as a developer or a construction firm, the investment is subject to a property related tax.


As the economy evolves governments will amendrules and regulations governing property will change to meet their policy targets. Therefore it has never been so important to have a  Property Tax Accountant on side to ensure the best possible returns are gained and even more importantly the correct taxation is calculated and settled on time. For example there are instances and exceptions where income tax may apply instead of capital gains tax so it becomes very important to establish the applicable regime of tax as income tax rate can be far higher than capital gains tax rates.


Investing in property is a high risk business regardless of the budget be it in thousands or millions, the gains or losses can be substantial if you get your sums wrong. Equally, if an incorrect tax rate or regime is applied, it could result in a high tax bill when a Revenue prompted enquiry commences. 


Going forward advice gained from Property Tax Accountant continues to be essential.


Over the next few years HMRC will be phasing in a restriction on the tax deductibility of interest payments on your buy to let mortgage.  There are a number of ways of mitigating the consequences but it depends on individual circumstances and planning.  There are a new number of compliance issues to be met, for example, from the 6th April 2018 the government is introducing a policy whereby there will be quarterly reporting and landlord will be caught by this new legislative form of reporting.


A tax payer has a clear choice of either go through the maze of taxation and living with the consequences of their property transaction as they present themselves, or better still the absolute key to a desired tax effect comes from careful and selective tax planning from expert buy to let Property Tax Accountant beforehand.