Property Developers

Morris Crocker have specialised in the property development, investment and construction sector for over 30 years during which time we have acted for a range of clients from individuals through to large privately owned corporate groups.

Property Developers


From an accounting and taxation perspective, property development can present a number of challenges that require careful planning in order to maximise your return on investment.

As specialist property accountants, Morris Crocker can guide you through the areas where particular consideration should be given, such as:

Ownership structure


There are several options available for developers, these include sole or joint ownership, Partnership, LLP, Special purpose vehicle (SPV), company, or group. Deciding which one is most appropriate to you will depend on your individual circumstances and intentions for the property once the development is finished.

VAT on property transactions


VAT is a complex area and great care should be taken to ensure all parties to the property transaction fully understand the implications of how VAT can affect a property transaction. Although many property transactions are not usually subject to VAT there can be exceptions. Developments must meet HMRC's criteria in order qualify for zero rate VAT. Contact us to find out how VAT may affect your specific circumstances.

Capital allowances on property


Capital allowances are not generally available to property developer’s properties as properties are classed as trading stock. Therefore, expenses incurred on improving or building the property are treated as revenue expenditure, not capital expenditure. However, in some situations capital allowances may be claimed, such as if you are intending to retain the property as an investment (build to let).

Income tax and corporation tax for property developers

As a property developer, you will be liable to income tax and corporation tax depending on the ownership structure you have chosen.   Our tax planning services take in to account both your personal and business tax position ensuring that you avoid any tax traps and have the best strategy in place for your individual circumstances.

For more information about our property accounts services, contact us on 023 9248 4356.


 

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Property Developers Key Contact

Kevin Gilbert, Director

Kevin joined Morris Crocker in 1981 and throughout his career has specialised the property development, investment and construction sectors.  He acts for all sizes of businesses, from individuals through to public companies.  His particular interest and expertise is in tax mitigation.

T:023 9248 4356
kmg@morriscrocker.co.uk

What our clients say...

One of our best decisions as a practice was to appoint Morris Crocker as our accountants.  They are of a very high calibre, exceptionally intelligent and knowledgeable. Queries are responded to promptly and a high level of service given at all times. To add to that they are a pleasure to deal with and have the ability to make financial matters understandable to the layman. We would have no hesitation in recommending them. Jane - GP, Gloucestershire

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