Our team of property tax accountants enables property investors to maximise their wealth and be as tax efficient as possible.
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Are you a landlord, property investor or property developer frustrated with having to pay the higher rate of tax? Do you work hard to earn your money and run your businesses but end up feeling disheartened with the large amount of tax you are required to pay?
Property related tax comes in many different forms, including VAT, Stamp Duty Land Tax, Capital Gains Tax and Inheritance Tax – and they can all be very costly.
If you want to reduce the amount of tax you pay every year, get your accounts in order, and stay on the good side of HMRC, we can help. Our property accountant team works with you to build your wealth in a tax efficient structure that you and your family can benefit from.
We’re Optimise Accountants: a strategic property tax accountant firm perfect for building and maintaining your property investment portfolio.
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Download our guide to building a tax efficient property investment business.
Service-driven property tax specialists.03
When we start working together, our property tax consultants complete a 100-point assessment of your tax returns. This lets you know they’re completely accurate and that you’re taking advantage of all relevant tax reductions.
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Our tax advisors pro-actively research tax issues applicable to your individual situation and present the best solutions.
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Don’t fancy dealing with HMRC directly? No problem. Our tax agent service means that we liaise directly with the organisation, leaving you alone to run your business interests and enjoy the income they generate.
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If you wanted to speak with us before you request a proposal then please book some time with us using our appointment booker. You will receive an email notification to let you know that your booking has been secured.
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We’re all about making your life easier – so we always employ fully qualified property tax specialists to help you sleep well at night. We pride ourselves on our completely transparent pricing. Working with us, you’ll pay a flat rate per month, subscription style, that includes VAT.
With the technology available today, we don’t need to be on the same road as you to maintain the quality of our delivery and service. So while we serve the whole of the UK, we aren’t based in London. We therefore don’t pay London rent costs, which translates into our pricing making us cheaper than typical accounting companies.
The price of our services is far outweighed by the savings our property accountants can deliver.
TRUSTED BY THE BEST. 06
Phil purchased a property with a shop above it and his solicitor asked him to pay £10,000 for Stamp Duty Land Tax (SDLT). Sadly he was misinformed and the SDLT charge should have been just £2,000. With our help, he was able to claim back the £8,000 (with interest) from HMRC.
Martin purchased a £200,000 commercial building which he was going to convert to a residential dwelling. Unfortunately for him, his prior accountant did not tell him about the tax breaks of saving VAT and SDLT on purchase. He did not repeat the overpayment of VAT of £40,000 or the overpayment of SDLT of £8,000.
Mr Grant disposed of a property and was worried about the CGT liability of £15,000. As an additional rate taxpayer, he already paid over £50,000 of income tax. With the use of an alternative investment as identified by our strategic partners, he was able to mitigate the CGT liability in full and get a cheque back from HMRC refunding £16,071 of income tax.
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FREQUENTLY ASKED QUESTIONS 08
We anticipate you will have many tax questions that need answering. Our monthly retained service allows you to book unlimited tax calls with us to answer your questions.
IR35 was introduced to stop doctors, GPs and locums being tax efficient us: ing limited companies. Read more here to see how our accountants for medics, doctors and GPs can help you: https://www.optimiseaccountants.co.uk/locum-doctors-pay-less-tax-ir35/
There are many ways in which you can extract money from a limited company. The most obvious ones are wages and dividends. However, there are many golden nuggets that may be extracted from your limited company gold mine. Please see this article to see how you can extract more than just wages and dividends. Article: https://www.optimiseaccountants.co.uk/extracting-cash-out-of-a-limited-company-2018-19/
Capital Gains Tax (CGT) will be charged when you sell a buy to let property and you have made a taxable gain. However, it is possible to minimise the amount of CGT that is paid to zero. Please read our article as we explore the many ways in which CGT may be reduced https://www.optimiseaccountants.co.uk/avoidance-of-paying-cgt-on-selling-an-investment-property/
As a GP practice, you will be provided an allowance from the NHS and is part of the GP rent reimbursement valuation. It is possible to challenge the valuation to ensure that you are paid a fair market privicd for the premises that you provide for patient care. See the article for more details: https://www.optimiseaccountants.co.uk/are-you-challenging-nhs-on-their-rent-reimbursement-valuation/
There are many GP locums that are paying far too much tax. This is because they are not providing for the costs that may help them reduce their taxable income. In this article, we explore the many different types of costs that a GP locum may offset against their medical income. https://www.optimiseaccountants.co.uk/doctors-and-locums-allowable-costs-to-reduce-your-taxable-profit/
One of the biggest missed opportunities is for GP doctors to use their pension to buy the building that they work from. It is possible to use your pension to buy a building and the rent collected from the NHS and other doctors may be paid into the pension pot. The income generated in the pension is not taxed, nor is the capital growth of the building. In this article, we explore how you can set up a SIPP pension: https://www.optimiseaccountants.co.uk/how-to-set-up-a-sipp-pension/
It is possible to gift a buy to let property investment to a child. In the majority of times, you will pay Capital Gains Tax (CGT) when passing a buy to let property to a child. However, using a trust wrapper allows you to use your IHT lifetime allowance rather than being charged CGT. See the article for more details: https://www.optimiseaccountants.co.uk/gifting-buy-to-lets-properties-to-children/
Transferring properties to a limited company from your personal name will in the majority of occasions incur a Capital Gains Tax (CGT) charge on uoi as the seller. You will also have a Stamp Duty Land Tax (SDLT) charge by the purchasing limited company. Both of these may be avoided using the incorporation reliefs of moving properties to a limited company via a partnership. Read our article here: https://www.optimiseaccountants.co.uk/how-to-incorporate-your-property-business-and-mitigate-sdlt-cgt/
Stamp Duty Land Tax (SDLT) is a tax that is paid by property investors and developers when a property is purchased. There is also the new 3% SDLT surcharge that applies to residential property investments. However, like many taxes SDLT is optional. As a property developer, it is possible not to pay SDLT on residential property investments. In this article, we explore the many ways in which SDLT may be avoided altogether: https://www.optimiseaccountants.co.uk/developers-do-not-pay-sdlt-on-flips/
Section 24 mortgage interest relief cap started to come into effect 2017/18 with the reduction of 25% to the amount of mortgage interest that is allowed to be offset against your property income. From 2020/21 landlords will no longer be able to offset mortgage interest against their property income. This means that the majority of landlords will pay more tax. In this article, we explore what Section 24 is, how it will affect you as a property investor and what may be done to mitigate its effect. Article: https://www.optimiseaccountants.co.uk/how-section-24-affect-property-investors/
The NHS pension is a difficult area for many GP doctors to understand. This is because the NHS do not provide enough education or information on this subject matter in a way that it is easy to understand. There have also been a number of changes to the NHS pension. In this article, we explore what the NHS pension is and how the changes affect you as a GP locum. https://www.optimiseaccountants.co.uk/what-are-the-changes-to-the-nhs-pension-since-19982015-and-april-2015/
Rent is normally VAT exempt. Therefore many landlords will not charge their tenant's VAT on their rent. However, this is a little more complex for those that have serviced accommodation/holiday lets. Once your turnover exceeds £85,000 you will need to register for VAT. This could be a problem as you may lose business by charging this extra 20% cost. In this article, we explore the implications of VAT and how you could use the flat rate scheme to mitigate the potential negative impact. Article: https://www.optimiseaccountants.co.uk/vat-flat-rate-for-holiday-lets/
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Stay up to date with the latest property tax legislation with insight from our senior property accountants.
