Why you should use a property tax accountant

Nov 5, 2021

Why use a specialist property tax accountant? It’s a question we get asked regularly and one you may have thought about.

The short answer is if you speak to the right property tax specialist you should pay the lowest amount of income tax, Inheritance tax, capital gains tax and get advice on setting up a clear tax structure to protect your property wealth. Entrust your accounts to a common-or-garden firm and you’ll get common-or-garden advice. If you are investing in property you need a specialist property tax accountant. Let’s face it, you wouldn’t want your GP to tackle your open-heart surgery, would you?

Here’s another reason why using a property tax accountant is crucial

That Rishi Sunak seems like a nice chap. Until he starts to whittle away your profits and take away your children’s inheritance.

That’s right. See, Rishi’s got trillions of pounds worth of debt to pay off. So, he wants to squeeze your profits until the pips burst. That means hammering you on income tax and taking a huge bite out of your children’s inheritance. We are already taxed at rates not seen since the nineteen fifties. As you know, landlords have become an easy political target for any party.

You’re a landlord, so that’s an issue that’ll be close to your heart. You have already felt the impact of the loss of tax relief on mortgage interest and ever more regulation.

Getting your tax structure right is crucial

Leave it too late and the damage may be substantial and then cost a small fortune to remedy. By speaking to a specialist property tax adviser you will get an insight into what you should be doing and how you can do it.

I’m a landlord myself, so if there’s a way of reducing your tax bill, you can be sure I know about it. Chances are unless you’re a secret taxation specialist, your personal or company structure may already be giving away £’000s to Rishi.

For example, have you set up your company to save inheritance tax as well as income tax? If not, you should look to set up your business as a Family Investment Company (FIC). As a FIC, you’ll save an immediate 40% inheritance-tax charge on assets worth over £325,000 as well as protecting your property wealth for the next generation.

Not only that, if the FIC is set up properly the income tax savings will more than pay for our set up fees well within the first year alone.

There’s a plethora of advice out there much of which I am afraid is incorrect and actually seriously flawed. Much of it from advisers with dubious qualifications. We’re not a small firm, but we’re not big either. Which means we’re competitive. We’re also fully qualified and accredited chartered accountants with the ICAEW.

Put your mind at ease and speak to a specialist property tax adviser before your first or next property and just get a health check.


Fancy a FREE 30-minute consultation?


Speak to one of our team of specialist property tax accountants today to fix up a FREE, no-obligation consultation about all things property. Call us now on 01902 711370 or 0800 907 8633.

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If there’s a property tax issue that has you puzzled or worried, get in touch. Everyone on our team loves to talk, especially when it helps people like you find peace of mind.