Buy-to-let and Second Home Tax
We recognise that there are many different reasons why people have more than one property. Whether you have purchased one as an investment to rent out, either on an annual basis or as a furnished holiday let, or you have purchased a property to use as a second home for you and your family, we can help you make the most of owning them in a tax efficient way.
You may be in the position that you have inherited a property that you are not ready to sell yet or that you have recently moved in with a new partner and find yourselves with two homes. We can help you find the way to make second home ownership work for you and plan with you to minimise your second home tax burden from the property in the future.
Whether this is new to you or whether you are a property portfolio holder we are able to offer a wide range of tailor made services and have a specialist team ready to help you.
We can assist with:
- Advice on the best way to structure mortgage finance for tax purposes
- Advising you on ownership where you are a higher rate tax payer
- Guidance on Stamp Duty and VAT
- What you have to tell HM Revenue & Customs and how to complete your tax return
- Advising you on what expenses you can claim
- Maximising your Principle Private Residence relief
- How to ensure your property meets the Furnished Holiday Lettings rules
- How to calculate the tax due when properties sell and claim maximum deductions
- Assisting you with telling HMRC within the 30 day Capital Gains Tax rules
- How property ownership affects your position for inheritance tax
Thinking of selling your property?
You can also use our Online Capital Gains Tax Service which offers a quick and easy way to supply us with your details so that we can carry out the calculations for you.
Visit us in our Bideford office or give us a call!
Telephone 01237 472071