With over 25 years of experience in the business of providing expert tax advice, V P Associates, Chartered Tax Advisors & Chartered Certified Accountants East Grinstead, represent an authoritative source on most aspects of tax.
The recent months have seen spectacular capital gains in buy-to-let property and residential property prices, in and around London, Surrey, Sussex and the South East of England, including the south coast towns of Brighton, Hove, Eastbourne and Worthing. Whilst London remains the hub of property hotspot, area such as Elmbridge, Claygate, Esher, Oxshott, Weybridge, Cobham and Wokingham in Surrey have near enough become beyond reach for even the most prepared first-time property buyer.
If you are selling your buy-to-let property or your home which has been rented during your ownership of it, then you will be subject to capital gains tax upon selling it. Whilst capital gains tax must not be evaded or may not be avoided, it can certainly be planned for and mitigated, with a view to a much reduced capital gains tax liability. It is strongly recommended that you seek professional, expert capital gains tax advice before the transaction in order to maximise the retention of capital gains and mitigate your exposure to capital gains tax. There are huge saving to be made with timely and expert tax advice, ensuring all the entitlements to tax breaks and exemptions are established and claims for. At V P Associates, Chartered Tax Advisors & Chartered Certified Accountants, with the tax expertise gained over the years dealing with H M Revenue and Customs in matters relating to capital gains, you can rest assured to have your CGT mitigated most favourably.
The recent months have seen a heavily targeted campaign by the HMRC, namely, the Let Property Campaign. This campaign is not limited just to the property hotspots like London, Surrey and Sussex. Let Property Campaign by the HMRC is rather a national campaign. The aim of this is to seek out Landlords who have not been declaring their:
• buy-to-let property income
• income from letting of their home or part thereof
• gains from the buying and selling of buy-to-let property
The tax provisions empowers the Revenue to seek undeclared tax and related penalties and interest going as far back as 20 years. It is clearly advisable to make a voluntary declaration then be caught out by the HMRC, not least in terms of penalties. Reduced tax penalty tariff apply on voluntary declaration. If you have any such undeclared rental income or capital gains from your buy-to-let portfolio of properties and looking for a confidential consultation with capital gains tax advisors on the related tax advice, then V P Associates, Chartered Tax Advisors & Chartered Certified Accountants East Grinstead, can assist you prepare your self-assessment tax returns to put matters right.
V P Associates, Chartered Tax Advisors & Chartered Certified Accountants East Grinstead, are tax specialists who help retain more of your capital gain by sheltering you from capital gains tax. If you looking for professional service and expert capital gains tax advice in London, Sussex and Surrey, UK, then do call us for an appointment.
Please visit our site for a comprehensive list of our services. These include dealing with tax affairs and business accounts preparation for self-employed individuals, be it sole traders or in partnerships, self-assessment tax return preparation, limited company accounts preparation and corporation tax matters, tax planning for individuals and limited companies, VAT, IHT and succession planning, to mention a few.
About VP Associates:
V P Associates, Chartered Tax Advisors & Chartered Certified Accountants East Grinstead, are the first and foremost specialists in taxation matters.
For more information visit: http://vpassociates.com/
Company Name: V P Associates
Contact Person: Vipul Patel
Phone: 0800 160 1500
City: East Grinstead
State: West Sussex RH19 3BT
Country: United Kingdom