Property Accountants 

Property Accountants

At GM Professional accountants we specialize in property accounting. The last fifteen years have seen tremendous growth in the UK property sector. This has given rise to high demand for top-quality tax and accounting services for letting agents, landlords, oversea investors, developers, companies and property investors.

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Thinking of starting a Property Development and Investment business?

Property development and investment is a complicated business and it can get very expensive if you get your taxation and accounting perspectives wrong. GM Professional accountants are experienced in property investment and development and have worked with many clients over the years. We know how to navigate through complex procedures and solve any issues that may arise.

What type of Ownership Structure should you choose?

One of the critical issues that we provide advice on is the ownership structure of your investment or development. We provide advice on what is appropriate for longer-term strategies as well as shorter-term requirements. We work with all kinds of businesses including Special Purpose Vehicles (SPV), joint or sole ownership, group, partnerships, corporates, and LLPs among many other businesses.

What type of accounting services will you need?

Tax liabilities are to a great extent influenced by how the business transactions are reflected in the books of accounts. As such, it is absolutely critical to have a property accountant with the knowledge of the accounting rules and regulations involved. Moreover, we take into account the longer and shorter-term intentions of our clients when providing accounting advice.

What types of Taxes will need to be paid?

We emphasize tax mitigation so that our clients can avoid the tax traps and in doing so claim all the relief that is available and reduce their tax obligations.

The main taxes are typically Capital Gains, Stamp Duty Land Tax, Corporation Tax, VAT, and Income Tax.  We work hard on these to reduce your tax obligations.

In recent times, the government has introduced the Annual Tax on Enveloped Dwellings (ATED) for a special class of residential properties owned by partnerships, companies, and other “collective investment vehicles.”

We also provide Inheritance Tax for individuals who need tax and accounting advice.

Property investment and development typically involves several transactions and many of these could involve a lot of money. As such, it is important to take into account what all these transactions will have on taxes before moving forward.

Project Finance and Appraisals

We have years of experience gained over more than three decades working as property accountants. We have helped a lot of clients in the appraisal of proposed development investments and projects for both commercial and residential properties. We provide advice on the most appropriate financial structures to adopt. We also use our contacts in the financing industry to get our clients the best financing deals whenever they need them.

Construction

Construction has its own peculiar taxation and accounting requirements. Some of the things to watch out for include VAT, employment status of workers and the Construction Industry Scheme (CIS) among several others.

GM Professional Accountants has the experience in the construction industry since we provide our services to all manner of business from large construction companies to sole traders. We can, therefore, help clients avoid the pitfalls inherent in the industry.

Outsourcing

For clients needing help with CIS, accounting, payroll, and VAT we provide outsourced services from professionals that will work according to your particular needs.