Property Tax

UK resident & non-resident landlords and their property advisers need to keep abrest of ever-changing Buy-to-Let tax rules,  buying via a company or personally, ATED tax, Capital Gains Tax on disposals, incorporating a property portfolio, structuring as Furnished Holiday Lets for various tax reliefs.

Our property tax services are aimed at assisting the following categories of clients in tax planning, tax compliance and tax management:

  • Private clients and high net worth individuals, including non-UK domicilliaries.
  • UK-resident and non-resident landlords and their companies.
  • Estate agents, property management & letting agents and other property professionals.
  • Solicitors, trustees, accountants and offshore corporate service providers.
  • Banks, wealth managers and other financial institutions.

Our services include:

  • Preparation of lettings accounts and tax returns for individual and corporate landlords (including offshore companies e.g HMRC form SA700 income tax return for non-resident company).
  • Full book-keeping services for maintaining records of property income and expenses for medium to large property portfolios, including VAT return preparation and management for commercial property.
  • Preparation of UK Tax Returns both personal (SA100) and corporation tax (CT600).
  • Processing HMRC forms such as NRL1/NRL2 to obtain clearance for landlords to receive rents “gross” without deduction of UK tax.
  • Residential property “enveloping” rules, Annual Tax on Exempt Dwellings (ATED) tax returns and management of all ATED-related matters.
  • Tax consulting advice for UK and  non-UK resident investors in UK residential and commercial property including effective tax structures for property investment. Also UK property sourcing, deal negotiation/execution and on-going maintenance services.
  • Assistance in dealing with HMRC  enquiries and tax disputes resolution.
  • Provision of UK registered office, company secretarial, paperwork handling, concierge and mail forwarding facilities for UK property structures.
  • Formation and administration of UK Companies, Limited Liability Partnerships (LLPs), English and Scottish Limited Partnerships and private equity structures for investment in UK property.
  • Inheritance Tax Planning services.

We offer wide-ranging co-ordinated property tax advice and services for all property investors and developers:

  • Mitigating the Stamp Duty exposure on the acquisition of commercial property.
  • Determining the right structure to ease future disposal of the property.
  • Splitting companies with both trading and property investment activities.
  • Reducing the exposure to VAT as a direct cost and as a compliance burden.
  • Ensuring that full advantage is taken of available VAT reliefs.
  • Extracting property from a trading company prior to sale of the company.
  • Ensuring that capital allowances are maximised and used effectively to minimise tax liabilities.
  • Tax planning for companies and groups undertaking property acquisitions.
  • Overseas acquisitions of property by UK resident individuals.
  • Cross-border property transactions by corporates.
  • Special services for non UK domiciliaries
  • Reducing the Capital Gains and Inheritance Tax consequences of acquiring UK property.
  • Minimising UK taxes for non-resident, non-domiciliaries undertaking property development activities in the UK.
  • Minimising liability to UK income tax on any rental income by claiming all available reliefs and deductions.
  • Putting in place  “Opting to Tax” and “TOGC” for VAT registrations for buyers for avoiding irrecoverable VAT.
  •  Tax-efficient “Incorporation” of rental portfolios currently held by individuals facing penal income tax rates due to the abolishment of interest tax relief.

RKG Consulting prides itself on its expertise in UK property-related tax and deal sourcing abilities acquired through many years of experience.