Undertaking an acquisition or sale of a property is probably one of the largest transactions a company can do in its accounting period and there are numerous tax consequences which need to be considered, including timing issues. When the sale or acquisition takes place can impact on the tax profile of the company and the availability of reliefs and set-offs.
We assist our clients in determining the optimal time for a sale or acquisition from tax perspective and then balance this with their commercial needs. We also help to ensure that all necessary elections are in place at the time of the sale and that all required tax documents have been signed and submitted.
Often, whether tax allowances are available on some or all of the cost of a property can determine the price of the property, whether our clients are buying or selling. We work with our clients to determine this.
We also analyse property transactions for inclusion in the corporation tax computations. Allowances may be available on the cost of acquiring a property and any renovations, additions or modifications which are carried out. We carry out a careful analysis of the expenditure to ensure that reliefs and allowances are maximised and presented to the tax authorities in an appropriate way, so that our clients get the maximum benefit from their costs.
