Property Tax Advisers
Practical tax advice for landlords, property investors and property companies, including joint ownership, declarations of trust, incorporation, capital gains tax and 60-day residential property reporting.
Property tax is about structure, not just tax returns
Property tax can look simple at first, but the important questions often sit around ownership, structure, timing and long-term plans.
A single rental property may only need straightforward reporting, but joint ownership, declarations of trust, company structures, property disposals and portfolio incorporations all need more careful thought.
At Taxwise, we help landlords, property investors and property companies understand the tax position clearly before decisions are made, not just after the event.
Personally owned property or limited company?
There is rarely a one-size-fits-all answer. The right structure depends on your income, borrowing, cash flow needs, long-term plans and whether profits will be reinvested or withdrawn personally.
Buying personally
Personal ownership may still be suitable for some landlords, particularly where simplicity, flexibility and personal access to income are important.
Buying through a company
A limited company can be useful where profits are being retained and reinvested, but it also brings administration, extraction planning and commercial considerations.
Restructuring existing property
Moving an existing portfolio into a company can be beneficial in some cases, but it needs careful analysis of CGT, SDLT, refinancing, costs and commercial reality.
Declarations of trust and rental income splits
Where property is jointly owned, the tax position does not always follow what clients assume. The legal ownership, beneficial ownership, rental income split and supporting paperwork all matter.
We can advise on the tax implications of jointly owned property, declarations of trust and Form 17 where relevant, so the reporting position is clear and properly supported.
Property tax decisions can have long-term consequences
Small decisions around ownership and structure can create tax consequences years later. That is why we prefer to discuss the position before properties are purchased, transferred, refinanced or sold.
We look at the property position alongside the owner’s wider tax affairs, including other income, company interests, future plans and whether profits are likely to be spent or reinvested.
Capital gains tax and 60-day property returns
Property disposals often need dealing with quickly. We can help calculate the gain, consider the reporting position and prepare the 60-day residential property CGT return where required.
Before the sale
Where possible, we prefer to advise before completion so the likely CGT position, reporting deadline and payment date are understood in advance.
60-day CGT returns
If UK residential property is sold and capital gains tax is due, the gain usually needs to be reported and paid within 60 days of completion.
Self assessment interaction
Where a disposal also needs reflecting on the self assessment tax return, we make sure the position is dealt with consistently.
Property companies and profit extraction
For property companies, the tax position does not end with corporation tax. It is also important to consider how profits are retained, reinvested or extracted, and how the company fits into the owner’s wider personal tax position.
We advise property company owners on practical tax planning, including dividend planning, director/shareholder issues and the long-term structure of the property business.
Property tax FAQs
Should I buy my next rental property personally or through a limited company?
It depends on your wider income, borrowing, cash flow needs, long-term plans and whether profits will be reinvested or withdrawn personally. A company can be useful in some cases, but it is not automatically the right answer.
Can rental income be split differently between joint owners?
Sometimes, but it depends on the legal and beneficial ownership of the property and whether the correct documentation and HMRC reporting are in place.
Can you prepare declarations of trust?
Yes. Where appropriate, we can prepare declarations of trust and advise on the tax reporting position, including Form 17 where relevant.
Can you advise on incorporating a property portfolio?
Yes. We can review whether incorporation may be suitable, including the tax issues, practical considerations and long-term commercial position.
Do I need a 60-day CGT return when I sell a rental property?
If you sell a UK residential property and capital gains tax is due, the gain usually needs to be reported and paid within 60 days of completion. We can help calculate and report the gain.
Can you advise before I transfer or sell a property?
Yes. It is usually better to take advice before a sale, transfer or restructuring takes place, so the tax position is understood before anything is committed.
Need property tax advice?
Whether you own one rental property, are building a portfolio or are considering a company structure, we can help you understand the tax position clearly.