Transactions involving commercial property can often throw up highly complex issues, so it is important to consult tax specialists from the start to avoid unintended tax liabilities.
Here at Lupton Fawcett, our team of solicitors prides themselves on their knowledge and experience in commercial property tax and are here to help you with any help and support you may need.
Property Tax Planning
By owning a commercial property, you may be eligible to claim capital allowances, reducing your corporation tax. What’s more, retrospective claims can be made if the property was bought within the last 15 years.
If your business owns commercial property and would like to make a tax claim, we can help you. The tax team at Lupton Fawcett has made countless successful capital allowance claims to HMRC on our clients’ behalves.
Our recent experience with the Commercial Property team includes:
- Advising a council on Stamp Duty Liability Tax (SDLT) issues in connection with £3 million development of a city centre, which involved complex issues on property exchanges, agreements for lease, substantial performance, market value and construction activities and obtaining clearance from HMRC that SDLT charges were nominal.
- Direct tax, VAT and SDLT issues in connection with leases, for example, property inducements, lease variations and assignments, surrenders and regrants.
- Direct tax, VAT and SDLT issues in connection with purchase of freehold interests (including let freeholds), including the grant and exercise of options, sub-sales and novations. In relation to VAT, advising extensively on transfer of going concerns (TOGC), the option to tax, VAT anti-avoidance rules, partial exemption and the capital goods scheme.
- Advising on, drafting and negotiating capital allowances provisions for both sellers and buyers post Finance Act 2012 and 2014 changes.
- Reducing the normal SDLT charge on the purchase of a £1.5 million mixed-use property using a relief available where multiple residential properties are acquired.
How We Can Help
The Tax team has extensive experience in advising on all matters relating to commercial property tax and will work with you, the Commercial Property team and your own professional advisers to understand the issues at stake to work towards a tax-effective solution to suit you.
We advise property investors, developers and other businesses (including local authorities, charities and the not-for-profit sector) on the relevant tax issues in connection with acquisitions and sale of property interests, portfolio restructurings and group reorganisations, joint ventures, sale and leasebacks, construction projects and onward sales.
Contact Us Today
For help and advice on any commercial property tax issues you may have, contact Lupton Fawcett today by calling 0333 323 5259 or by completing our online contact form below. Alternatively, if you have any questions or queries, contact Julian Moran, Head of Tax at Lupton Fawcett.
Get in Touch
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I have known Dan for a number of years and he has been a valuable source of commercial advice across a wide range of issues.Dirk Mischendahl, Ross and Cashmore Limited; Leeds Ice Cream Company Limited
Having Giles Clegg acting for us at director level, with this wealth of experience, meant that we were constantly several steps ahead of the other advisers.Henry Robinson
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Andrew and his colleagues at Lupton Fawcett were accessible and they provided us with excellent advice throughout the cross-border transaction. We would recommend the services of Andrew and his team to others.Andrea Pappagallo, Vice President, Federal-Mogul Inc
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Max is an excellent lawyer who knows my businesses inside out and always deal with my requirements promptly, efficiently and I can always rely on him to just 'sort it out' for me.John Hill, Hill Care Group
Martin provided not only spot on and instant legal advice, but he also came with a masterful and passionate negotiation technique - I'm glad he was on our side!Richard Hunt, CEO, Agility Multichannel Limited
Giles and his team were invaluable to us, showing outstanding attention to detail coupled with a commercial and pragmatic approach where necessary.Peter Watson, Managing Partner, Simpson Millar