Property Tax Advice for Landlords, Developers and Investors
If you receive rent from another property, holiday home, or have
renovated a property which you plan to sell, you need to inform the Inland
Revenue.
 We
can guide you through the increasingly complex property tax regulations
and help minimise your taxation liability.
In our experience property investors are often paying too much tax so
please contact us for a personal, cost effective and tax deductible
examination of your tax liability.
Providing Clear and Concise Information for Landlords
If you rent out property you will need to pay income tax on the difference
between the rent charged and any allowable expenses or charges.
Allowable expenses include:
□ Repairs costs to keep your property in its current
condition
□ Replacement Furniture - You can claim for wear and tear
□ Mortgage / Loan Interest - You can claim for all the
interest charged, but not the
capital element of the repayments
We'd recommend that landlords seek advice from a specialist taxation and
accountancy advisor - Arcus has the depth of knowledge and experience to
help you!
Property
Developers and Investors
We can provide you with advice regarding all tax aspects of buying,
selling and letting property - so if you are about to invest in, dispose
of, or let property do give us a call.
Some of the property taxation issues we've advised on recently include
guidance on buying a property in the most tax efficient way - as either an
individual, as joint owners or via a company to maximise rental returns.
We can advise on the pros and cons of treating your property business as a
trade versus an investment, or, give advice on the best time to sell your
property to minimise capital gains liability.
So if you need answers to any property issues, want to maximise your
profits and minimise your tax liabilities, we're here to help.
Holiday Home Lets
It's all too easy to jump in at the deep end and fall in love with your
holiday home and forget about it as a rental investment!
If you rent your furnished holiday property for at least 70 days, but not more than 140 days in any
one tax year, you qualify for additional property tax benefits. This means you are able to take advantage of
favourable conditions for any loss you make on letting the property and on
the profit you make when it's sold.
We're able to advise you on all aspects of how to get the most from your holiday home
investment.
|
