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Property Tax - Residential Property

For most people and businesses, a property will be the biggest single asset held. Therefore it is critical to ensure that it is properly protected and financed, and owned by the correct party. There are a mass of reliefs attaching to property but an equal or greater number of pitfalls. Our Property Taxation experts can help you plot your way through these rules in order to optimise the benefits of property ownership.

In recent years, the taxation of residential property has radically changed and if you remain unsure of what this means to you, our Property Tax team has prepared a series of factsheets to assist you, which are available for download from our publications section.

Contact the Residential Property Taxperts

David Morrison

David Morrison

Head of EQ Taxation

Cheryl Whitton

Cheryl Whitton

Supervisor

Robert Young

Robert Young

Principal Manager

Land and Buildings Transactions Tax

Purchasing a second property or an investment property will render you liable for the Additional Dwellings Supplement (ADS) in Scotland. Land and buildings transactions tax (LBTT) is often cited by property owners as the reason why they are unable to restructure their property portfolios. Our team of Property Taxation experts can assist you in mitigating these costs and provide you with a platform to build your property portfolio.

Portfolio Structuring

From a tax-only perspective, trading as a limited company is typically the optimum position. For new entrants to the market, you should carefully consider your options, with flexibility, costs, taxation and risk management your major issues.

For existing property owners the costs of reconstruction can be prohibitive. Our team of tax experts will work with you to arrive at the best outcome for you.

View Related Case Studies

Incorporation

For many years, our new client has owned five residential properties with interest-only mortgages. He was frustrated with the higher rate tax on his property income and sought…

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Interest Restrictions

Our client is a property investor with a mixed portfolio of commercial and residential property. Debt to value ratio was low and the client sought to buy another…

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Income Tax Rules

Factsheets are available to download from our publications section but the major recent changes affecting property owners are : –

You should already be adopting these rules but our team will be happy to offer you any advice you need. We work with property owners, property management companies and lenders to ensure that all clients are aware of the changes and can plan their way around them.

Ownership Matters

Property can be individually owned, jointly with others, by a company or trust or indeed a combination of these.

Clearly the tax status of the owner will have relevance to the taxation position and this requires careful analysis. Whether your objectives are inheritance tax reduction or asset protection, risk management or income tax reduction, our team of Property Tax experts are here to help you. New rules on extended reliefs for Main Residence may also require careful review.

View Related Case Studies

Rent a Room Relief

Our client wished to acquire a two-bedroom property for his daughter, who was to be studying at university in Glasgow. He asked what the best rental outcome would…

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Trust and Estate Taxation

Our clients, a husband and wife, jointly owned a number of rental properties. They wanted to give their daughter financial assistance to pay for their grandchildren’s private education…

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Our services include:

Land and Buildings Transactions Tax

Portfolio Structuring

Income Tax Rules

Ownership Matters

Download our EQ app and keep up to date with tax news, changes and have access to our EQ Portal, tax calculators and key tax dates at your fingertips. Click on the relevant button on your device to download our free app.

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