There are several tax issues which have to be considered when purchasing a property, such as Income Tax, Capital Gains Tax and Inheritance Tax. Therefore, proper planning is crucial to minimise the amount of tax you pay over the time you own a property.
That’s why we offer advice from when you buy your property right through it’s letting life, and ultimately it’s sale. This advice can cover in whose name the property is purchased, whether it is furnished or unfurnished and what types of expenditure are allowable for tax purposes. We offer a free, no obligation initial consultation either over the phone or in person.
We’ve a range of solutions to make sure your bookkeeping is as simple as possible. For those with one or two properties, we have some bespoke spreadsheets to record your income and expenses. If you have a few more properties, we’d recommend Xero. Our clients with multiple properties use Xero because they benefit from information on the individual performance of each property. This means they can see which properties are performing well, and which ones would benefit from attention.