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As property advice accountants for Hertfordshire, London, and the UK, our skill set and experience covers many property-related issues.Â Due to the increase in property values both commercial and residential over the years, individuals have been attracted by what appears to beÂ Â a very straightforward and relatively quick way to make a lot of money!
Not only is it necessary to have an understanding of the property market in terms of properties and finance (and we have the experience to be able to give you some independent advice) but to Â decide on which sector would be most appropriate residential or commercial. There are so many questions such as, “am I a property investor or trader?” “Should I be holding the properties in my own name or through a limited company?” “Whatâ€™s the difference between letting out a residential property and a furnished holiday let?” “What happens with VAT?” “What happens if I am not a UK resident but want to invest in UK property?” “What happens to my properties if I leave the UK?” “My business would like to buy a property to trade from should it be held by me or by the company?” “How do I account for service charges?”
So many questions and so many answers. Set up your property investment/trade incorrectly and you could find yourself paying a much higher rate of tax because your property investment wasnâ€™t properly structured at the beginning. Itâ€™s not easy to make changes later on without incurring further tax charges.
And of course the advice isnâ€™t necessarily restricted to those looking to invest in property.Even if you are just taking out a lease for business premises unless you understand the tax treatment of capital equipment relating to the premises youÂ may find yourself considerably out-of-pocket. Again initial planning is extremely important.
Weâ€™d love to help if we can. Whether you know you want to work with Caplan Associates, or youâ€™re simply looking around for the best property advice accountants in Hertfordshire and London, and serving the entire UK, feel free to stop in anytime, or contact us online.
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