Property - Domestic and International
Whether you are buying or selling property or managing a portfolio, tax can be seriously complex and, potentially, a major cost. Property is often a medium term investment and careful tax structuring at the outset will improve the return on investment later in the cycle.
FGS has leading experts on the tax issues involved in the purchase, structure and sale of domestic and international property. Our team delivers tailored taxation solutions for our clients, who range from individual investors to developers, family businesses, large companies, organisations and syndicates.
We give advice and practical support at each stage of the property investment cycle, working closely with client legal advisors. Clients also benefit from our international experience and our associates in over 70 countries through our membership of RSM International.
Tax planning
There are many ways that you can acquire property – as an individual, through a limited company, a pension fund or several other options. The choice you make has a significant bearing on your net after-tax return on investment. FGS ensures that careful tax planning minimises future potential tax costs.
Financial strategies
Property investors need to be able to make informed decisions on funding property investments. Appropriate structures are needed for debt and equity finance including servicing and repayment mechanisms.
FGS has the expertise and experience to identify the funding options and assess the Irish and international tax status in each case. Commercial and legal considerations are balanced with tax advantage in choosing the optimum funding structure.
Costs of ownership
As a property owner, you will want to avail of tax deductions for property costs which you incur during the period of ownership. FGS’s taxation specialists give you expert, informed advice on optimising such tax deductions.
Irish and UK Tax
Property investors can become liable for a range of taxes on the acquisition, development, rental, transfer or sale of property including Stamp Duty, taxes on capital gains, inheritance and gift tax and VAT.
FGS devises tax-efficient strategies to minimise potential tax exposures and plan the various phases in the property cycle including the transfer of assets to children and trusts.
International tax
Tax rules regarding property vary enormously from country to country, with significant tax traps for the unwary. Typical issues that arise include:
- Capital allowances
- Loan interest
- Taxes on purchases (such as stamp duty) and on sales (Capital Gains Tax etc).
- VAT
- Tax payable on rental income
- Personal and corporate residency rules
At FGS our tax specialists have extensive experience in property tax matters not only in Ireland and the UK but also in international markets.
Our international work and links with organisations such as RSM International – the 7th largest network of accounting and consultancy networks in the world - provide us with local expertise in all the major world economies.
Related links
For details on services related to taxation and property, go to the following pages: