Property and Construction
Ellis & Co can offer you comprehensive property tax advice and accountancy services on a full range of commercial and private property portfolios.
Our team of expert accountants can analyse and organise financial accounts as well as provide advice and assistance with applying for mortgages.
We can help you save time and money in a range of situations such as applying for mortgages when you are self employed or have cash tied up in assets and are unable to prove that you have a regular cash flow.
Our Tax Manager Peter Way-Rider can also help you minimise your tax bill on buy to let properties or holiday homes.
We offer a free, initial hour long consultation to all our property clients either over the phone or in person at your premises or at your office.
A property development business, which was run as a partnership, had the opportunity to purchase land with planning permission for 25 building plots. At a meeting held with the partners, Ellis & Co examined the building scheme, forecast the profit over the development period of three years and calculated the expected tax liability. We then considered how the tax burden could be reduced.
A limited company was then set up to undertake the development. The partners were appointed directors and shareholders in the limited company. The 25 properties were built and sold, corporation tax was paid on the development’s profit and the remaining profits were returned to the shareholders who claimed entrepreneurs’ relief upon closing the company. The tax saving that Ellis & Co helped bring about was considerable.
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