We have seen many clients who now have extensive property portfolios, having started with one and then added more over time. When we are brought in, ownership of the portfolio can be split between many family members with several mortgage lenders. Where the portfolio is now significant, the clients are mainly concerned with Income Tax rates on rents and with Capital Gains Tax on sales. This is now exacerbated by the new restrictions on mortgage interest relief and wear and tear allowances for individual and partnership owners.
Please have a look at an article we have written recently about the pros and cons of restructuring property portfolios held in personal names - Article_on_property_incorporation.pdf.
We can assist with:
- Restructuring portfolios to tidy them up and to reduce rates of tax on rents.
- Planning to minimise Capital Gains Tax on sales of properties
- Optimising tax where gains are to be made as a result of planning permission being granted.
- Optimising tax where property is to be refurbished or developed.
- Ownership of UK property by non-residents and non-domiciles.
- Advice on Stamp Duty Land Tax where property ownership is restructured.
To discuss this with us on a non-judgmental, discrete and no cost basis call our helpline 0800 001 6686 or contact us today.
Gary Brothers and Mike Leigh are regular contributors to a number of professional forums. The current blogs are here, and our archived blogs can be found by checking on the link below.