Property Tax
The way property is taxed in the UK differs depending on whether the property is private or commercial.
Privately held property is usually subject to Stamp Duty Land Tax at the point of purchase, and Capital Gains Tax consideration at the point of sale. If part of your home is used for business purposes, you may become liable for Business Rates.
Commercial property is also usually affected by Stamp Duty Land Tax at the point of purchase and Capital Gains Tax on any sale, but also subject to Business Rates while the property is owned. VAT regulations should also be a consideration, as you can decide to opt out of the available VAT Exemption.
In this section we’ll look at the most common areas that are applicable to our clients. If you have questions to which you cannot find an appropriate answer, please get in touch. As a small team, we’re limited in terms of the content we can realistically include and maintain here, but are both able and happy to help with less common circumstances too!
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Related Info
Why not take a look at these sections too, as there is some overlap between our categories and we’d hate you to miss out!
Personal Tax
HMRC
Glossary
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Can I just say we are so pleased that we have moved to Baranov Associates. As we discussed when you visited, we had to find a way to take the stress out of all of the financials and you’re doing that for us! We can see how to use Xero more efficiently and so with us being as on top of it as we can be and with you and Liz we feel a lot more confident about our business being in good shape.
Mrs S James, Sandbanks Capital Partners Limited
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