The property market in Kent is strong relative to the rest of the country and surrounding counties. Easy access to London and Europe are just two of the factors driving the property market in Medway in particular. High demand for housing as home buyers opt to relocate out of London makes investments in Kent property an attractive option.
Our specialist property accountants act for a range of Kent property businesses including buy to let landlords, second homeowners, residential & commercial construction companies, property developers & property investors as well as property-related businesses such as estate agents, architects, surveyors, engineers and all of the associated trades.
Property accountancy is a complex area so it pays to work with a property accountancy firm with experience in the sector and in-depth knowledge of property tax and related accounting issues.
|Buy-to-let tax advice|
|Mortgage interest relief|
|Undeclared rental income|
|Property company ownership structure|
|Construction Industry Scheme (CIS)|
|Tax-efficient structures for property businesses|
|Property VAT planning|
We have packages to suit most needs, however, if it’s not quite tailored enough then please get in touch as bespoke packages are always an option.
We take care of all of your specialist property & landlord requirements.
Amazing company to be with, always have time for you and deal with things straight away. I can't recommend AK enough, Andy and the team have made my life so much more simple.
Left it a bit late with my accounts and tax return, but I got a quick appointment and they managed to get it all sorted out in time. Thanks guys.
Medfab Ltd have been working with Andy for 2 years now, the service and expertise is 2nd to none. I have had other accountants in the past that came highly recommended but are nowhere in the slightest to the calibre you receive fr AK Tax and accountancy. regards Kevin Harris Medfab ltd Managing Director,
The way that property transactions are reflected in your accounts is key to reducing the amount of tax that you pay. A thorough understanding of property accounting rules and how to apply them is crucial. With our property accounting service, all of your financial information is pulled together in real-time so you can always see how well your property business is performing. You’ll be able to accurately judge where to make investments as well as see what is costing you money.
Whether you have a single BTL property or a whole portfolio you will benefit from careful tax planning in order to stay in the right side of the law as well as to minimise the amount of tax that you pay. Understanding the specific accounting and tax rules is complicated so it pays to get specialist advice. We can help you prepare rental income statements, advise on tax allowable expenses, how to use tax losses and Capital Gains Tax & Inheritance Tax. We will also prepare your annual Self Assessment Tax Return and show your tax position so that you know how much you are owed or are due.
Under previous rules, pre-April 2017, you could deduct mortgage costs and other associated fees alongside other cost related to your property before working out your taxable profit. When the new regime fully takes effect in April 2020 you will no longer be able to do this if the property is held by an individual rather than a company. This means that the higher your income and the more that you borrow, the greater the impact will be. We can advise you on your best course of action based on your circumstances whether that means setting up a company, selling unprofitable properties or offsetting tax by reducing your costs.
The Let Property Campaign is designed to encourage people with rental properties to voluntarily come forward and declare undisclosed rental income. If you have been targeted by HMRC we can help you lower any potential penalties as well as help you negotiate an affordable payment plan.
AK Tax offers property businesses advice on the most efficient ownership structures for both short term and long term strategies including sole or joint ownership, investment company, trading company, pension fund, LLP or Special Purpose Vehicle (SPV). The decision as to whether to hold property in a particular structure is not a straight forward one. The tax issues related to moving from one structure to the next are particularly complicated. We help our clients understand the advantages and disadvantages of each structure and which best suits their objectives.
Property developers and investors need to consider the VAT implications of buying or developing a property prior to any transactions take place. Converting commercial sites into residential property has particularly complicated implications. It is crucial that the correct approach is taken at the outset because there can be a significant impact on the purchase price or the rent paid on property especially for businesses that are not registered for VAT. AK Tax can ensure that you make the right decisions by advising on the pros and cons of “opting to tax”, reclaiming VAT, your SDLT liability and Transfer of Going Concern (TOGC) rules.
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Whether you’re starting up or you’re an established business, we’ll make your work with us as easy as humanly possible – starting from the time you get in touch. Just call us on 01634 540040 or complete the form below and we’ll get back to you ASAP.