We have many clients who rent out residential and commercial property. We are able to advise landlords on the tax position of their properties, the expenses that can be offset against rental income, and planning to reduce capital gains tax when the property is eventually sold.
With all the recent hard-hitting tax changes, such as the new mortgage interest restrictions for higher-rate taxpayers, the removal of the popular 10% wear & tear allowance, 'ATED' (the annual tax on enveloped dwellings) where certain residential properties are held in a limited company and also the stamp duty land tax (SDLT) increased rate on the purchase of additional properties - it is now more important than ever to take professional advice.
For commercial property the maximisation of capital allowances on the acquisition of a commercial freehold property is very important these days with a 100% initial allowance and annual allowances being deductible from the gross income. Also types of expenses and the manner in which the property is financed will also give rise to tax breaks if handled correctly.
We can advise on the tax and accounting implications of the following:
Property tax specialists
Furnished holiday lettings
Flat management companies
Helping local businesses to grow and pay less tax | Small enough to care
PROPERTY RENTALS & BUY TO LET
Services for commercial property owners and landlords who rent property and wish to save tax
Whitehall Road, Sale
Manchester M33 3WJ
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Providing unique accountancy services to businesses in the sale area, throughout Greater Manchester and the North West
Taxwise Accountants are a family-run, firm of accountants based in Sale, Manchester
0161 917 7341
Get in touch with us on 0161 917 7341 or firstname.lastname@example.org