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Property Acquisition/Disposal

The majority of acquisitions and disposals of property are taxable in some way, some are subject to reliefs, some are subject to exemptions, but in almost every case either the disposer of the property or the purchaser has a tax liability. In some cases such as a gift, deemed disposal or a disposal between connected persons is based on a valuation rather than on an actual price. Some of the things to think about on acquisition include;

  • SDLT, how much will I pay and on what should I pay it?
  • When will I become liable to pay SDLT?
  • Will there be any capital allowances for me to claim in the future?
  • How can I secure my right to claim them?
  • I am buying a business, is there any goodwill?
  • I am buying a property as part of a company, are there any hidden tax traps.
  • What are the VAT consequences, when should I opt to tax?
  • Should I buy this property on my own, with a partner or as part of a company?

Some of the things to think about on disposal are;

  • Should I opt to tax?
  • What will my tax liability be?
  • What should I do about capital allowances, should I enter into an election?
  • What is the property value at date of death [death is a deemed disposal]?
  • What is the value of the property I am gifting or placing into a trust?
  • The person or company I am making the disposal to is connected to me, what shall I do?
  • I want to move this property from being an investment to stock in trade, what must I do?
    How can I improve the purchaserís SDLT position and is it legal?
These questions and variations of them apply to buying and selling freeholds and leaseholds and often to taking and granting leases, the making of inducements and contributions by landlordís to tenantís fit-out costs. Further information can be obtained under the Taxation and Transaction Structuring sections above, but if the answer is not straightforward why not ask us?
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