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Fixed Fee Accounting

Property Development Tax

Our Services

We have a specialist property team experienced in all aspects of property development tax ready to help and advise you.

Whether you intend to develop one or many properties, residential or commercial, as a stand-alone project or part of your existing business, there are many tax aspects that you need to be aware of.

Property developing, by its very nature, involves large numbers and this brings many opportunities to plan ahead and reduce your tax burden and to avoid costly mistakes. The key is to take advice early and preferably before purchasing your first property.

One thing to be aware of from the outset is there is technically no such thing as ‘property development tax’.

Instead, there are a variety of different taxes which can impact a property developer, including, but not limited to:

  • Stamp duty
  • Income tax
  • Corporation tax
  • Capital gains tax

In our discussions we can help you establish which taxes you will be liable to pay.

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Property development tax – what we can help you with:

  • Deciding if you should trade as a limited company
  • Determining if you should register as a main contractor under the Construction Industry Scheme (CIS)
  • Operating your CIS and communication with HM Revenue & Customs
  • Advice on the best way to structure mortgage or commercial finance for tax purposes
  • Calculating your annual profit and advising you when to account for income
  • Your record keeping and required paperwork
  • Computing the National Insurance payable
  • What to do if your property doesn’t sell
  • Planning for the VAT implications of your development and advising you on this complex area
  • Completing VAT DIY Builders Scheme forms
  • Calculating Stamp Duty Land Tax (SDLT) in advance of payment
  • Discussing your intentions for the property and planning for the long-term.

Visit us in our Bideford office or give us a call!

Telephone 01237 472071

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