Running a business:
Taxation of property
The taxation of property is a complex area, and you should seek professional advice before buying, selling or making significant alterations to a property. Some of the issues involved are:- Capital allowances - are you eligible?
- VAT - will you need to pay VAT on the purchase and, if you reclaim the VAT, could you have to pay it back later?
- Stamp duty - will you need to pay this tax?
- Capital gains tax - do you need to pay it? Or might you be eligible for rollover relief?
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- I want to change my business premises; do I need to think about tax?
- I'm expecting a large capital gains tax bill when I sell an asset. What can I do?
Remember, the earlier you ask for advice, the greater your options for saving tax will be.
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