We provide specialist advice on property assets to help you manage income, reduce tax liabilities and plan for long term value.
Property can be complicated, so our property tax experts are here to advise you through the rules and regulations. We will help you get your property assets structured properly and in the most tax-efficient manner.
There are tax implications for investing in buy-to-let properties. At Haggards Crowther, we look after a number of experienced investors and those new to the world of property. Whether new or experienced, all need on-going advice regarding their property assets, as part of their wider investment strategy.
We also help those who are new to investing in property and need guidance on the tax implications. Our role varies from guidance and strategic input to calculation and submission of tax returns where property assets form part of the investment income tax.
Many of the expenses you incur in managing your property assets can be offset against the income in calculating the profit. We can help guide you through the maze of allowances to ensure that the profit is both correctly calculated and accurately disclosed on your tax return.
It is also not unheard of for new investment properties to actually make a loss in the first year. This can largely be due to the costs of refurbishment or setting up tenancy agreements and engaging professional services.
Like a profit, a loss should also be disclosed on your tax return as in some cases it can be carried forward to future years and offset against future profits, thereby reducing future tax liability.
Our skillset covers many areas of property asset management, including:
If you have a managing agent, we can arrange to speak to them to discuss your property(ies) and establish a direct line of communication. As a result, we will be able to collect the monthly statements we need for your tax return, one less thing for you to worry about at tax return time.
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Speak to our team today to find out how we can help you manage your property assets and optimise your tax position.
