CAREERS Client login SERVICES SECTORS ABOUT US EVENTS INSIGHTS COVID-19 CONTACTS HOME SERVICES TAX PROPERTY TAX Property Tax Property is a tricky game; if you’re not careful, you could spend way more than you expected on things like stamp duty land tax, the ATED and VAT. A solid holding structure and an expert eye on the portfolio can help to mitigate some of those headaches. Tax planning Whether your properties are commercial or residential, or for trading or investment purposes, we will look at your individual circumstances and create a scenario that considers the most appropriate holding structure for the property. We’ll also look at how to minimise capital taxes through applying reliefs such as principal private residence relief, entrepreneurs’ relief, incorporation relief, and business property relief. We’ll monitor the impact on the residential property market as new changes take effect and develop tax planning strategies for you that may help to mitigate the tax burden. Capital allowances Capital allowances aren’t as cut-and-dried as you may think. For example, if you have purchased a second-hand commercial property, you may be able to claim capital allowances on existing fixtures within the property. Commercial property owners must be proactive in their capital allowance affairs; our experts can work with you to get the best deal. Stamp Duty Land Tax (SDLT) SDLT is due on the purchase of property. Different rates apply depending on whether: The property is commercial or residential It is your first or subsequent residential property investment The property is held either directly or indirectly through a company (see ATED). There is often little that can be done to minimise SDLT on transfer of property, however there is a lot that needs to be considered to ensure the correct amount has been paid. Annual Tax on Enveloped Dwellings (ATED) If you hold a property through a company, collective investment scheme or partnership with corporate partners, and it is valued more than the ATED threshold, you may need to pay. We can advise on investing in or disposing of residential property, or assist with filing your ATED return. VAT The VAT risks associated with property transactions are high. We have a specialist team that can ensure: Any VAT consequences within the structure are minimised, considering the type of property, renovation plans and the option to tax. You obtain zero and reduced rates of VAT where applicable. That stamp duty implications for future disposal are considered within the scope of all decisions made relating to the property. Fee protection insurance Should your tax affairs come under HMRC scrutiny, and you have purchased our special tax investigation fee protection insurance, our fees will be completely covered no matter how lengthy or complicated the investigation process. Get in touch for a chat about streamlining your property portfolio’s tax. Get in touch with our experts If you want to discuss a specific issue, ask us for a quote, or simply find out what we have to offer, please complete the form below and we'll get back to you as soon as we can. Alternatively, please email us at webenquiries@mhllp.co.uk Full Name* Email* Message* Key contact Tax Partner Nigel May +44 (0)20 7429 4100 Created with Sketch. Enquire Now Tax - Transfer Pricing Services - Customs and Excise Duty - Corporate Tax - Employment Tax - Global Mobility - International Business Tax - Property Tax - Private Client Tax - Share Incentives - VAT - Tax Investigations Related Content Find out more Review of Capital Gains Tax – what it means for small businesses and individuals 21 July 2020 Nigel May explores the background to this review and what a future CGT may look like. Capital Gains Tax Planning – plan ahead for the April 2020 changes 08 August 2019 We outline the key changes for CGT ahead of the 6 April 2020 deadline Getting onto the property ladder – the tax incentives 07 August 2018 Buying a property is one of the biggest financial commitments an individual will ever make... Unexpected changes in tax relief for residential landlords 06 November 2017 There were substantial and in many cases unexpected changes in tax relief for residential landlords Meet the team Previous Patrick King Tax Partner Patrick is a Tax Partner and Chairman of MHA MacIntyre Hudson's Tax Steering Group as well as our national associations Tax Strategy Group, leading a team of specialists to ensure clients have access to the very best in compliance services and tax mitigation solutions. Patrick's own specialisms are capital tax planning for individuals, corporate restructuring, remuneration planning, profit extraction/repatriation and increasingly, international matters. He also advises clients on the tax implications of buying and selling their business. Patrick is a keen swimmer and occasional free diver,who still competes! He is an advocate of “anything worth doing, is worth doing well”. Get in touch with Patrick King Next Meet the team What they say about us The continuity with their core specialist sector team and ability to give advice across several areas of support has been key to us working together. - Feefo Holdings Ltd What they say about us The relationship with MHA MacIntyre Hudson has always been a solid one. The team are able to respond quickly to problems and achieving timescales. Their international network, Baker Tilly International, gives them breadth and the ability to cover overseas issues. - PRISYM ID MHA MacIntyre Hudson Links Staff Login Client Login Corporate Social Responsibility Modern Slavery Statement Website Policies Legal Information Sitemap Privacy Policy Cookies Recruitment Agency Policy Latest tweets Join us next week for our #PrivateClient & #Entrepreneurial Business webinar on Group Structures. Our experts will… https://t.co/oa8AluYkgl Is your business ready for the #Plastic Packaging Tax? 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