Property development accounting services

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Frequently Asked Questions

We understand that you might have lots of questions when looking for an accountant. For this reason, we have compiled a list of frequently asked questions for you, which we hope will be helpful. However, if you have any further questions, please contact us.

Can property development businesses claim R&D tax relief?

Although there are several potential avenues for tax relief in the property development industry, many businesses overlook Research & Development tax credits. Our experienced advisors will assist you in determining whether or not the efforts you are taking, such as those to increase energy efficiency or those involving the development of equipment, qualify you for tax relief.

What taxes can I expect to encounter as a property developer?

Our highly experienced team can help you with the various types of UK taxes you’ll need to consider. These are what you can expect: 
– Transaction taxes – Stamp Duty Land Tax (SDLT), VAT, Capital Gains Tax (CGT)
– Taxes on income and trading – Income tax, Corporation tax
– Other taxes – Annual Tax on Enveloped Dwelling (ATED), Inheritance tax (IHT)

What is a property portfolio?

The term “property portfolio” is often used to refer to the collection of properties owned by a person or corporation engaged in the property development or investment business.

Should I form a limited company for my property development venture?

When you’re involved in property development, operating through a limited company may be quite effective in certain cases, but it is not always the right approach for everyone. 
A company structure may be the best option if you are just getting started and want to gradually accumulate assets. You may incur significant tax penalties if you attempt to transfer properties that you already own into a limited company, especially if you do it without the help of a professional. Consult an experienced property accountant as soon as possible to ensure proper consideration is given to all these factors.

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