A corporation tax is charged on any corporate body, including any limited companies. So, a limited company, whether it is a property SPV company or a company with other activities such as property development or property trading, falls under the charge of corporation tax.
Historically, many landlords never had to worry about corporation tax as the properties were under the individual’s name and were only liable to income tax and capital gains tax.
However, any property purchased under the name of a Limited company will be liable to corporation tax instead of income tax & capital gains tax. This is because all the incomes and gains of the company are taxed as corporation tax, although the method of calculation of different sources of income is different.
The rules for non-resident company landlord have changed significantly from 6 April 2020. The latest changes imply that the non-resident companies which carry on a UK property business or have other UK property income are now moved from the income tax regime to the corporation tax regime. As a result, the non-resident company landlords will now need to comply ...
How will we help you with Corporation Tax Planning?UK Property Accountants has a specialist team of highly qualified property tax experts for the best corporate tax planning solution.Our corporation tax planning services include the following:Group restructuring,Corporate losses utilisation planning,Chargeable gains planning,Corporate tax reliefs. ...
What is a Corporation Tax?A corporation tax is charged on any corporate body, including any limited companies. So, a limited company, whether it is a property SPV company or a company with other activities such as property development or property trading, falls under the charge of corporation tax.Many landlords historically never had to worry about corporation tax as the ...