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Top 10 real estate tax and accounting issues

accounting for real estate developers

The property and construction sector comprises a wide range of professional services including architects, surveyors, planners and estate agents. Advice is commonly sought to ensure the business is adequately structured to help with succession or exit https://azbigmedia.com/real-estate/how-do-real-estate-accounting-services-improve-clients-finances/ planning. This planning may be linked to tax efficient remuneration strategies which can help ensure that key individuals are retained within the business. For example, R&D relief may be relevant but is often overlooked by professional services firms.

accounting for real estate developers

There are many tax structures that property developers can own property. Our property developer tax experts can help you understand how to reduce tax using the correct tax structure and to use many legal and ethical techniques to reduce tax. Optimise is proud that our property developer tax advisors have helped over 1,000 clients to reduce tax on property development projects across SDLT, VAT and property tax. We’re also accountants for landlords so, you can rest assured that we understand the ins and outs of the real estate sector, from the accounting and tax side of things. As our client, you also benefit from your very own personal accountant, which is included in our accounting packages – this means you never have to worry about extra fees or hidden charges. The ever-changing tax rules need to be understood and built into the plans and structure of the business.

Expected surge in commercial remortgages

This may cost a little extra, but it means you won’t have to pay a much larger sum to your accountant if you are audited. „Liverpool Alive have been working with LJS for the last 8 years and have always been satisfied with the accounts. Keli has been very helpful over various issues and is a pleasure to work with.“ Many people end up overpaying on their SDLT – but at LJS, we can ensure that you’re paying the right amount and not a penny more than you should.

  • As well as property development, we do accounting for landlords too – we have a firm knowledge of the ins and outs of the real estate sector, including accounting and tax.
  • We can review your personal tax position and advise on whether operating personally or via a limited company will likely be the most tax efficient approach.
  • In all of these roles, well-managed real estate accounting can make all the difference.
  • Given the complex nature of real estate accounting, you need to use the right tool for the job.
  • You need to avoid the crushing weight of dozens of spreadsheets, a wallet or purse full of company cards, numerous annual returns, and complicated tax planning.

Our company can provide industry-focused real-estate and construction bookkeeping and accounting services that can help contractors and property companies to accomplish goals faster. We can work with you to ensure you are maximising the value of your assets whilst ensuring long-term profitability, cash flows and income tax minimisation. Our knowledge will give insightful solutions for your challenging business.

Mayfield – how product innovation is improving the caravan experience for holidaymakers

With ever tightening margins, strong finances are essential for construction companies. The workforce required to undertake projects has been hit by uncertainty due to changes to pay requirements, such as increases in the national minimum wage and an expansion construction bookkeeping of the IR35 rules. There are also specific tax requirements such as CIS and upcoming changes to the VAT rules. Growth has been subdued, with issues of housing supply, scarcity of affordable land, tax changes, and planning approvals remaining a problem.

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