Income tax is payable on any profits made from rental properties, but the amount of tax can be reduced depending upon the expenses which are incurred when letting out the property. We will be able to advise upon the expenses that can be claimed.
Buying a Property
If you are thinking of buying a property, whether it be commercial or residential, it can make a difference whether you purchase it privately, through a pension fund, or through a limited company. There are a number of different taxes, such as Stamp Duty, Capital Gains Tax (on any eventual sale), and Inheritance Tax, which need to be considered carefully. We will be able to advise you on the best structure.