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Property & Construction
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Almost everybody is involved with property transactions at some stage in their lives, this may range from renting or buying a home; to acquiring business premises; to owning and letting property; or being involved in the construction industry.
Almost all property transactions have taxation and business consequences and the rules never seem to stay the same for very long. In the last 12 months we have seen radical changes to stamp duty land tax and yet more changes are proposed for:
- inheritance tax on family homes;
- interest relief for letting businesses; and
- tax allowances for owners of houses let with furnishings;
All this combined with major alterations to the lending criteria imposed by banks and other finance providers is creating an ever changing landscape for property transactions. Keeping on top of everything has never been more difficult or more important.
At Thomas Westcott we have many years of experience dealing with a vast array of property problems, providing both simple and innovative solutions as each case demands. As well as keeping on top of changing legislation for you.
Our newly formed Property and Construction Group has been setup to provide a focus for our expertise in Property owning and construction to bring together all our knowledge so that we can effectively share it with each other and with you. We have links with many bankers, estate agents and solicitors so not only do we have answers we also have the contacts to get you the best advice when you have questions that are not within our areas of expertise.
Whether you want to know about the VAT consequences of a construction project or are looking to sell a second home or anything in between we are here to help.
Related Insights
HMRC put the brakes on the construction industry reverse charge
10 September, 2019
HMRC have announced that the implementation of the VAT Domestic Reverse Charge for CIS Construction services is to be postponed until 1 October 2020.
Reverse charge in the construction industry
10 July, 2019
From 1 October 2019, HM Revenue and Customs will introduce a VAT reverse charge on certain building and construction services. This measure will mean that the customers will be liable to account for the VAT in respect of those purchases, rather th...
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For further information, please contact: Mark Tibbert ACA Partner and Head of Tax | 
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For further information, please contact: Ian Huggett FCA Partner |
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Registered to carry on audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales, details about our audit registration can be viewed at www.auditregister.org.uk, under reference number C001091748, and details of all audit regulations can be accessed at www.icaew.com/regulations. A list of members can be found under Legal Notices. Thomas Westcott has offices in Axminster, Barnstaple, Bideford, Bridgwater, Burnham on Sea, Crediton, Exeter, Holsworthy, Honiton, Ilfracombe, Okehampton, Plymouth, Seaton, Somerton, Tiverton, Torquay and Weston super Mare.
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