Buy-to-let and Second Homes
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 whether you have purchased a second property for you 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 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
- Advice 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.
- How to maximise 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.
- Checking if you are eligible for Lettings relief.
- How property ownership affects your position for inheritance tax.
Visit us in our Bideford office or give us a call!
Telephone 01237 472071