Landlords have been impacted more than most in recent years from changes in tax law and tightening up of legal measures.
Whether you have a substantial portfolio or a few houses being let out, the importance of good advice has never been more vital.
Our specialist tax Partners and Consultants are proactive when it comes to these changes and work with you to develop the right strategy, whatever your size of operations.
We pride ourselves on balancing proactive advice and specialist input from highly experienced and qualified experts with a competitive, locally administered, personal service. We can deal with any eventuality in a concise manner but are also proactive when it comes to advice and changes in the tax laws and regulations.
- Capital Gains Tax advice around the sale and transfer of properties
- Advice on the use of limited companies for owning and letting property
- Reacting to tax changes including transferring property into corporate ownership
- A specialist VAT consultant, ensuring the right advice for your range of projects
- Tax tips and guidance for renovations or repair projects
- General compliance administration from our accounting and tax teams.
Different because you are
We pride ourselves on providing individually tailored services to our clients. Whatever your aspirations and priorities in business and life, we will be by your side with expert advice from local specialists. It is because your needs are unique, that the solutions we provide are distinct and personalised to you.
To understand our full range of services, go to our Services page. If you are involved in the construction or renovation of property our Construction and Property sector page can highlight further relevant points to builders.
Otherwise, feel free to get in touch to discuss your needs with one of our local specialists.
Can you help with tax advice for Landlords?
The relevant tax rules and regulations for property owners and landlords have been changing in recent years and it is important that those taxpayers affected are receiving the right advice. We advise a number of local landlords from those with one or two buy-to-let properties to more structured businesses holding broad portfolios of residential and commercial properties.
Colin Fish, one of our partners, works closely with the Eastern Landlords Association, regularly presenting at events and hosting local landlords forums. Our team of tax partners and consultants have a detailed knowledge of all relevant tax laws and regulations.
See our dedicated Landlords page for more information on our services or get in touch to speak to one of our experts.
Is Lovewell Blake able to help me with the acquisition and selling of properties?
We are not able to assist with the actual acquisition and disposal of properties as you would need a conveyancing solicitor to handle the legal obligations. However, if you are thinking of acquiring or disposing of property, we are able to provide advice regarding the tax implications.
Should I use a limited company for renting property?
Whether or not property should be held in a limited company will depend on your personal circumstances. There are several things to consider, including but not limited to:
- If you only hold one or two properties, then the additional costs and compliance that come with running a company may outweigh the benefits.
- There are potential capital gains tax, and stamp duty land tax charges on property going into a limited company. Depending on how long you have owned the property, and the current value these charges could be substantial. There are reliefs available in some circumstances.
- If the rental income is required by you for daily living, then you would need to consider how to extract the rental profits from the company.
- Depending on your current marginal rate of income tax, there may be little tax saving of using a limited company.
- The long term intention – you may be thinking of passing on value to the next generation.
- What the property is used for – there can be tax implications for individuals where certain types of property is owned by a limited company.
- Annual Tax on Enveloped Dwellings (ATED) – there may be additional tax charges for high value residential property owned by a company.
Lovewell Blake have a team of specialists who can assist with any of the above.