Do you pay too much property tax? Maybe you feel that the tax you’re paying could be the wrong amount for any reason and you want to make sure that you’re being completely tax efficient when it comes to the property/ies you are paying tax on?
Here at Corcillium Wealth Management we can help you to ensure that your money is working hard for you no matter what your circumstances are. With property triggering a number of different taxes at various times throughout the year how do you know whether your taxes are right or even correct?
If you’re looking at buying or even own a number of properties managing the tax so that it is minimalised will be a priority for you to ensure your paying the right amounts and not too much.
If you are letting or renting out property it will come with new taxes that will be hard to understand unless you have a professional property tax specialist onboard to help. Also keeping the right records is imperative to ensure your tax efficient.
“Can I offset my mortgage interest against my property rental income” is a question we are often asked and dependent on your specific situation will depend on what answer to give you. Stamp duty, land tax and a variety of other taxes will all need to be taken into account when offering you advice on property tax.
Property will more often than not also make up a big part of someones estate and can therefore have an impact on inheritance tax which is also something we are asked about regularly.
We want to help you ease the property tax burden by ensuring as much as we can that your paying the right amounts and keeping the right records so why not get in touch with Corcillium Wealth Management today on 01483 654135 to find out more and book your no obligation consultation.
The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.
Please note that the Financial Conduct Authority do not regulate tax planning or estate planning.