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.

We work 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.

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.

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.

• Borrowings.

Lovewell Blake have a team of specialists who can assist with any of the above.