Property Matters Newsletter: Issue 2

Property Matters Newsletter: Issue 2 19th April 2023
Plan and reflect or reflect and plan?

The first few months of the year generally allow for a reflection on the previous year and then planning ahead for the current year, however planning ahead this year looks like it could be even more difficult than normal.


House prices are growing, albeit slowly, mortgage rates have increased, however not as far as expected and inflation continues to be a major issue for all day-to-day costs.


The March budget brought changes and challenges, any planning must always consider what might happen, as well as what will happen and what you want to happen.


Should you consider refinancing your properties? If so, then our wealth management colleagues will be able to assist. Should you incorporate your property portfolio, to provide a form of longer-term protection for your family assets? If so, then appropriate tax planning would be something that you should consider.


Not forgetting that there are more and more regulations when renting property which need to be met, certainly there are going to be changes relating to the EPC ratings, so what should you be doing now to ensure that you comply?


Are you buying land to construct your dream home, or is this an investment, or something that you are to sell on quickly? If so, what are the VAT aspects that you need to consider?


Bear in mind that we are close to the financial year end, which of course means that there is a new compliance reporting season just around the corner. So, do you need to consider making an ATED (Annual Tax on Enveloped Dwellings) return?


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Disclaimer - All information in this post was correct at time of writing.
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