Building a new property has its own unique challenges, and some of them can be easier to deal with when you get property accountants to help you out. These specialised accountants have extensive experience in working for construction-based customers, such as sub-contractors and main building contractors, developers, and tradesmen. They possess the understanding and knowledge necessary to navigate the ins and outs of property accounting, while serving as your trusty financial advisor too. This way, you can rely on them for risk analysis and gain the right resources to maximise your project’s potential.
To get the most from property accountants, hire a team that will not only help you with the accounting and bookkeeping. The best ones can serve as your partner in exhaustive and meticulous planning for your business. This way, you can maximise your profit margins and keep your business afloat, even in the most volatile markets. An experienced property accountant can help you across different property-related matters and transactions, including taxation, revenue generation, and surveying, no matter what type of structure you are building (i.e. commercial land, residential properties and private structures).
You can rely on property accountants for VAT planning, financing property transactions, capital gains maximisation and implication, land tax and stamp duty, and allowance (claims, reviews and reliefs). They can go beyond their usual bookkeeping and accounting services by helping you with inheritance and estate planning, treatment of tax where renewable projects are involved, and treatment of tax for renting.
Landlords can also benefit from hiring property accountants. Whether you have a single or multiple rental property, these accountants can take care of bookkeeping, maintaining accurate records, and dealing with the HMRC. With their help, you could minimise your expenses related to utilities, transportation, council tax, ground rent and service charges, mortgage payment interest, letting agents’ fees, accountants’ fees, and maintenance and repairs. They can aid in the reduction of basic tax rates and advise you on the most tax efficient means to own property.