Accounting for landlords is becoming an increasingly complex area, especially for buy-to-let landlords. Our tax planning strategies reduce tax bills for individuals or businesses working in the residential property sector. Contact us if you need advice or would like to book a free consultation.
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Helping you make the most of your investment
With two universities and a large student population, it is easy to understand why Bristol is a hotbed for residential landlords.
Many buy-to-let landlords use property as a form of long-term investment to produce regular income in the form of rental profits and capital growth. When you buy a buy-to-let property, you may want to refurbish it to bring it up to your desired standard.
However, care must be taken to ensure the spending you incur is correctly classified as revenue expenditure (a repair) or capital expenditure (capital improvement).
Revenue expenditure is deductible against rental income (if the property is a rental property at the time) whereas capital improvements may be deductible for capital gains tax purposes.
how can we help
To find out more or discuss how we can support your property business, get in touch with a member of our tax team by calling 01454 619900.
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