Personal Property Tax

Tax advice for individuals investing in, developing
or holding UK and overseas property

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Property tax for individuals has become materially more complex over the past decade – and more punishing for those who have not kept pace with the changes. Stamp duty surcharges, the restriction of mortgage interest relief, the abolition of the furnished holiday lettings regime, the 60-day CGT reporting window and the changes to non-resident landlord rules have all altered the position in turn, often without adequate warning and rarely in ways that make the underlying position simpler.

Whether you are acquiring a property, restructuring a portfolio, considering a development project or planning the eventual disposal, the tax position needs proper analysis.

Our team advises individual investors, landlords, developers and second-property owners on the structuring decisions and the ongoing tax position.

The work runs alongside the wider personal tax planning and the succession considerations that property assets typically sit within.

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How we deliver personal property tax advice

On acquisitions, the most useful work is done before exchange.

SDLT analysis, the choice between personal and corporate ownership, the financing structure and the planning for any future disposal are all easier to optimise before contracts are signed.

On ongoing holdings, we handle the annual compliance, the rental income reporting and the periodic review of whether the structure still fits the position.

Our expertise

  • Stamp Duty Land Tax analysis on acquisitions
  • Personal versus corporate ownership decisions
  • Restructuring of property portfolios
  • Rental income and allowable expenses
  • Mortgage interest restriction planning
  • 60-day CGT returns on residential property disposals
  • Principal Private Residence relief and lettings relief
  • Non-resident landlord scheme
  • ATED for individuals holding through corporate vehicles
  • Overseas property held by UK residents
  • Furnished Holiday Lettings transitional rules

Where the property portfolio is significant, the wider planning around Inheritance Tax, succession and the use of trusts or family investment companies becomes part of the conversation.

We co-ordinate the property tax work with the wider personal tax and estate planning so the picture is consistent.

What you can expect from our property tax team

Three things define our personal property tax work:

Engaged before the transaction

On acquisitions, restructures and disposals, the value comes from being engaged early. The structuring decisions that affect the eventual tax position are taken before contracts are signed.

Joined up with the wider position

Property tax for individuals connects to personal tax, Inheritance Tax, succession and often the wider business position. We hold all of those together rather than handling property in isolation.

Practical about the rules

The legislation in this area has changed repeatedly and continues to change. We work through what currently applies, document the basis for the position taken and review periodically as the rules evolve.

Individuals come to us on property tax because they want an adviser who is positioned upstream of the decisions – guiding the structuring choices before contracts are signed and working alongside them as the portfolio grows and the rules continue to evolve

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Why choose Macalvins?

Macalvins is a Top 100 UK accountancy firm and a member of PrimeGlobal, a network of around 300 independent firms across more than 80 countries.

We have years of experience supporting property investors, landlords and developers with their tax position, ensuring they make use of the reliefs available to them.

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Frequently Asked Questions faq

Should I hold property in a company or personally?

It depends on the situation. Corporate ownership avoids the mortgage interest restriction and can offer succession advantages but introduces other costs and tax events such as the ATED regime where applicable. Personal ownership is administratively simpler but can be less tax-efficient for higher-rate taxpayers holding leveraged portfolios. The answer depends on the size of the portfolio, the financing, the time horizon and the wider personal tax position. We work through that with you before any move is made.

We have a property portfolio held personally. Can we transfer it into a company tax-efficiently?

Possibly. An incorporation can in some cases benefit from incorporation relief where the conditions are met. SDLT, CGT and the practical implications of refinancing all need to be analysed carefully. The conditions for the various reliefs are specific and the position is fact-dependent. We work through whether incorporation makes sense before any transfer is proposed.

Mr. Jackson
@mrjackson
Mr. Jackson
@mrjackson