Providing Solutions to your Property Tax Issues Since 2010
With over 30 years in the tax profession (including 14 with HM Revenue & Customs), Kevin McDaid is ideally positioned to provide you with cost effective solutions to all your property related tax issues in, what is, an extremely complex and constantly changing tax environment.
We have a number of case studies covering issues from when & how to notify HMRC when you first start to let out a property (and the consequences of failing to do so), the different tax treatment of property trading versus property investment, through to the potentially huge impact on tax liabilities that will arise once the loan interest restrictions commence in April 2017.
For more information click here.
Tel: 01274 214979
Mob. 07939 222437
Tax is changing.
There has not been a budget in the past few years that has failed to introduce a raft of changes to the taxation of landlords, buy to let tax, BTL tax, the taxation of property investors (call it what you will). Some changes are beneficial, some definitely are not, whilst others just simplify matters.
The table below highlights some of these changes:
I had the good fortune of having Kevin personally recommended by my solicitor.
As a property investor I am delighted by the quality of service and deep knowledge I continue to receive. This is a tax practice really committed to saving the client money!
As I am now delving into property development, Kevin continues to offer sound tax planning to take maximum advantage of the opportunities afforded within the legislation.
What our clients said about us:
One thing is certain: the changes will offer tax planning opportunities that we can guide you through.
Our aim is to ensure that you pay the minimum amount of property tax whilst remaining fully compliant with your property tax reporting obligations.
When you link the above changes with the growth in UK tax legislation, which stands at around 10m words in March 2016 (pre the 16/03/16 Budget) - double the size that it was in 2009, and the largest in the world – the need for quality professional advice and planning is clear. It does not help that much of the tax legislation surrounding income tax, CGT, IHT, SDLT and VAT is obscure.
The closure of all HMRC enquiry centres in 2014 and increasingly lengthy waits when phoning HMRC, mean that it is almost impossible to have any meaningful narrative about how HMRC interpret the tax rules working.
As a chartered tax adviser with over 30 years in the profession (both with HMRC and in practice) I can provide up-to-date, informed tax advice and property tax planning to investors, developers and, generally, to anybody with a tax issue, always with the goal of minimising property tax and maximising your investment.
There are two aspects to property tax: reporting & planning: -
Reporting – your property tax transactions to HMRC, usually by way of an annual Self Assessment tax return. From just £10 per month we can take away the hassle and worry of self-assessment with our Tax Return service. We will:
• Complete all the relevant schedules on your tax return including employment income, pensions, benefits and expenses, capital gains, investment, rental & overseas income (see below regarding self-employment)*
• Calculate your tax position and claim a repayment on your behalf, if applicable.
• Submit the return and calculation to you with a covering explanatory letter.
• File your return online to HMRC.
• Liaise with HMRC on your behalf.
• Be available for all your property tax planning queries.
* If you are in receipt of self employed income please contact us for a quote.
Correct Tax Planning –
• Advice on personal or corporate ownership. Is incorporation appropriate following the changes to BTL tax as a result of the restriction in finance costs from April 2017?
• An understanding of how rental transactions (including furnished holiday lets) are taxed.
• CGT advice including principal private residence relief, lettings exemption and other claims to reduce the tax cost of holding and selling property.
• IHT planning for private individuals owning property or property based companies.
• Minimising non recoverable VAT.
Based in Bradford, West Yorkshire (highlighted in the photos throughout this website courtesy of www.inspiringimagesltd.com, we are happy to provide property tax advice and property tax planning to individuals and corporates resident in the UK and abroad.
Please read through the following case studies and client recommendations; then let us know how we can assist you.
Getting in touch is easy for your UK tax advice and UK tax planning:
• Email: firstname.lastname@example.org
• Email: email@example.com
• Tel: 01274 214979
• Mob. 07939 222437
I have recently been in contact with Kevin McDaid of 'Property tax Advisers', (March 2016) mainly due to the recent changes made by our Government, restricting finance relief on mortgage interest, which will greatly increase my tax bill.
I found Kevin to be a very experienced, sociable professional who has given me good, honest advice regarding incorporation of my property investment business, with a view to saving tens of thousands of pounds in tax in future years.
I do not hesitate in recommending Kevin and will use him and his company again during the incorporation process and again in the future.
Property Tax Advice
Property Tax Planning
Property Tax Advisers
The Chartered Institute of Taxation (CIOT) is the leading professional body in the UK for advisers dealing with all aspects of taxation. Membership of the CIOT is by examination, nationally recognised as the gold standard of UK taxation education.
The Association of Taxation Technicians (ATT) is the leading educational body in the field of compliance, tax law and practice.