Posts List

Save Tax by Straddling the Year End the Right Way
By Marie walshe In Property Posted May 15, 2018 0 Comments
My client is a property developer company with a 31 March year end. The client is having issues with the builder and needs the contracts to be exchanged before the new tax year. The date of the exchange of contracts (i.e. the contract date of an unconditional sale) determined which year the sale was recognized […]
Don’t forget to Save Tax by Mixing Business and Pleasure
By Marie walshe In Property Posted May 15, 2018 0 Comments
My client has a property business which includes a mix of residential and commercial properties. The Pleasure (Property P) is a residential property, it has a small rental loss brought forward, and has made a profit (bigger than the loss b/f) this year. The Business (Property B) is a commercial let, it also has a rental loss brought forward, […]
Does Your Property Blueprint Consider Saving Tax?
By Marie walshe In Property Posted May 15, 2018 0 Comments
What is your goal: The company will purchase run down properties, renovate them and then sell them on. Property transactions are a minefield what with DI, CG, VAT, IHT, Stamp Duty and solicitor’s fees all coming into it. Have you considered if you are looking at residential or commercial or a mixture? VAT is not […]
Writing down cost of building
By Marie walshe In Property Posted March 16, 2018 0 Comments
I have a limited company client who owns a couple of rental properties (one commercial, one residential). There’s no re-valuation reserve. They’ve just had valuations done which show the market value at 10% below the carrying Net Book Value.  What should I do? Sounds like time to blow the dust of that copy of SSAP […]
The Adamant Client
By Marie walshe In Property Posted January 21, 2018 0 Comments
My client was going to sell some land he personally owns overseas. The deal didn’t go through but they received £15,000 in compensation for the deal not going through and messing them around. The client is adamant that the £15,000 isn’t taxable because they paid £80,000 for the land originally and as they haven’t sold the […]
The man from HMRC says YES!!!
By Marie walshe In Property Posted October 30, 2017 0 Comments
My wife and I are thinking of making a business trip next year to have meetings with bankers, brokers, tenants, and tradespeople we have not seen for several years. Would our business trip expenses, and especially our return air fares from abroad to the UK, be offsettable against income tax? We asked the helpdesk at […]
Limited company contractor
By Marie walshe In IT, Property Posted August 31, 2017 0 Comments
If you are a limited company contractor, you will have a lot more flexibility over how and when you pay yourself. Assuming your contract work is not caught by IR35 most limited company contractors extract income in the form of dividends, and a small salary. The main tax benefit of incorporating is that dividends are […]