There have been major tax changes on how property portfolios are taxed with the removal of the wear and tear allowance and the finance cost restrictions that are currently being phased in. We are currently advising our clients on how best to structure their portfolios in order to mitigate the recent changes. There is not a one size fits all solution and our advice is tailored to our clients individual situation. Important taxes to consider are: Stamp Duty Land Tax and Capital Gains Tax.
How we can help?
There are a number of planning solutions, which we can use depending on your individual circumstances to mitigate the impact of the finance cost restrictions. The restrictions will take full effect from April 2020 and we advise investors to look at planning now and consider options such as the use of companies, trusts and family members.