Accounts, Audit and Tax for Estate and Letting Agents
Our wide range of services we offer include;
- Accounts preparation
- Audit
- Tax advisory services
- Management accounts
- Tax Returns
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VAT
- Payroll
- Tax planning
- Stamp Duty Land Tax planning
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Benchmarking
- Succession planning
- Employee Rewards
- Incorporation advice
Stamp Duty Land Tax
With the announcement in the 2010 Budget that Stamp Duty Land Tax (SDLT) is to increase to 5% on residential properties over £1 million from next April, more and more buyers are going to consider ways in which to mitigate their SDLT liability.
There are planning schemes available that provide for a complete mitigation of SDLT, but it is important that, if considering such planning, we are involved early in the process. This type of SDLT avoidance is aggressive tax planning, but may assist in reducing the exposure to SDLT, which may just help in securing a sale.
Corporate Finance
Our dedicated Corporate Finance team can assist any clients wishing to expand or exit their business. These services include:
• Acquisitions and disposals
• Share valuations
• Goodwill valuations
• Due diligence
• Assisting in negotiations
• Preparing the business for sale
Tax advisory services
Tax affects us all and in running an Estate or Lettings Agents business, there are many taxes to consider:
• Income tax
• Corporation tax
• PAYE
• National Insurance
• VAT
• Stamp Duty Land Tax (SDLT)
It is therefore essential to structure your business as tax efficiently as possible. We can help. By providing the right tax advice to Estate and Lettings Agents, you can ensure that you pay as little tax as possible.
Income Tax
If you currently trade as an individual or in a partnership, you will be taxed on your share of the profits, regardless of your cash needs. With the new rate of 50% applying for taxable income over £150,000, you need to consider your alternatives.
Should you incorporate? That will depend on your personal circumstances, but savings could be achieved.
If you stay as a sole trader or partnership, what can be done to mitigate your income tax liability? There will always be aggressive income tax planning opportunities available, should you be interested in those and we can explain those options to you. Alternatively, simple structure planning, timing of certain expenditure, can make all the difference.
Where you trade as a company, you need to ensure you structure your income in as efficient a manner as possible. Consider all the alternatives, there are more ways to remunerate yourself than through the payment of a salary.
We can help you to look at all the options available and provide the right tax advice to limit your exposure.
Corporation Tax
If you have a corporate or group structure, care must be taken to ensure you are not paying too much corporation tax. Aggressive corporation tax planning opportunities may be available, and we would be happy to discuss those options with you. However, often simple restructuring, changing the timing of expenditure and forward planning can make the difference.
We can help by reviewing your current structure and corporation tax position and giving suggestions on ways to reduce your exposure to corporation tax.
If you would like more details about any of our services click below to make an online enquiry.