Property Investment

Whiting & Partners has worked with many property related clients across the Eastern Region for many years and we are here to advise during the highs and lows of the property market.

Our experts have in-depth knowledge of the industry as well as an understanding of the various legislation and unique requirements facing this sector.

We can help your property business thrive through our compliance and advisory services which include, but are not limited to –

  • Capital Gains Tax Advice
  • Preparation of Annual Rental Accounts
  • Personal/ Corporate ownership advice
  • Non-resident Landlords
  • Stamp Duty Land Tax

We can also help answer questions such as

  • How are rental transactions taxed?
  • What is rent-a-room relief?
  • How do I qualify for lettings exemption?
  • How should I structure my business for minimum tax exposure?

Our Property Investors Group meet regularly throughout the year, with representatives from across the firm discussing current affairs impacting the sector as well as ensuring the team are up to date with recent legislative changes.

The group has also developed a number of ‘brief guides’ which are updated on a regular basis and are available to download –

Client Review

I have always found Whiting & Partners helpful, reliable, always willing to discuss problems and advise on the best procedure.



 
Latest Blogs in Property Investment
 
Richard Alecock
5th March 2017 MTD Update

Making Tax Digital: or Making Tax Difficult? Our MTD team look at a general update on MTD, Landlords, Timelines and Deadlines, Third Party Data, Bridging the Digital Gap, Unincorporated Businesses and ‘are you ready?’: Full Newsletter Blog entry by: Catherine Hubbard.

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Richard Alecock
24th February 2017 MTD Update

MTD: Revenue hold firm. HMRC have published their long awaited response to the making tax digital (MTD) consultation documents.  In essence the original timeline as detailed in the consultation documents remains unchanged, with the first taxpayers being affected by MTD from April 2018. Therefore for those businesses with an accounting year end of 5 April and…

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Richard Alecock
22nd February 2017 MTD & VAT

MTD: Merging with VAT returns. As part of Making Tax Digital for Business, those unincorporated businesses who are also VAT registered will have to submit their VAT data through a digital software package from April 2019, rather than by using HMRC’s online portal. This will hit those businesses who do not currently use an accounting…

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Paul Jefferson
1st February 2017 VAT on Self-Builds

DIY Builder VAT Reclaims:  Get the detail right. A recent tax tribunal case highlighted the point of completion of a new build project in relation to DIY builder VAT claims. It noted that it is not necessarily the date on the Certificate of Completion which represents a building project as being finished. The Certificate can…

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Barbara Nicholas
27th October 2016 New Tenant Tax

The “Axe the Tenant Tax” Group is a crowd-funded coalition of individuals and organisations supported by Cherie Blair and representing over 150,000 landlords. The group are campaigning for a judicial review hearing of the legislation in the summer 2015 Finance Act that seeks to restrict tax relief for finance costs borne by residential landlords. In some cases, the workings of the legislation will result in landlords having to pay more tax than their rental profit.

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Richard Alecock
20th October 2016 HMRC Consultation Update

Making Tax Digital: 6 tax returns required each year! HMRC’s 6 Making Tax Digital consultation documents have been open for review and comment for several weeks now. As time has passed, it has become ever more apparent that there are enormous changes ahead for all taxpayers affected; initially the self-employed and landlords. Further review of the documents…

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Richard Alecock
19th August 2016 Making Tax Digital – Property Investors

Small Buy-to-let Landlords: HMRC offers simplified tax rules. HMRC’s 12-week consultation into Making Tax Digital (MTD) published 15th August focuses on one of the measures aimed at simplifying the tax rules for unincorporated property businesses, giving landlords the choice to use the simplified cash basis, currently only available to some unincorporated traders. Landlords with annual business income below £10,000 will not be required to keep their business records digitally or provide quarterly updates to HMRC, but they will still be able to use the optional cash basis. Through using the cash basis, the move towards quarterly updates required by MTD would become more straightforward, giving landlords additional flexibility.

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Richard Alecock
11th July 2016 Making Tax Digital

Landlords: Get ready for submitting 4 tax returns a year? H M Revenue & Customs will be implementing ‘ Making Tax Digital’ over the coming few years. Their aim is for ‘most’ landlords to be reporting their income each quarter via their digital tax account rather than after the end of the tax year on a tax return.

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Nick Edgley
14th April 2016 SDLT Planning

Transferring Second Property into Joint Names: Beware SDLT trap! We commonly advise married clients who are considering a transfer of rental property from one spouse into joint names. Where the owner spouse is a higher rate taxpayer, there is often a potential to make use of the other spouse’s basic rate tax band. The potential income…

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Ian Piper
15th February 2016 SDLT Changes

+3% Extra Stamp Duty Land Tax: Unless you purchase before 1 April. Property investing clients will be aware than plans for a 3% stamp duty land tax surcharge for property purchases over £40k of second homes and  buy-to-lets are due to come into effect on 1 April 2016. This leaves a small window of opportunity…

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