West Sussex, UK -- (SBWIRE) -- 07/24/2014 -- V P Associates, Chartered Tax Advisors & Chartered Certified Accountants East Grinstead, represent an authoritative source on most aspects of tax offer Capital Gains Tax & Buy-To-Let Property Tax Consultancy services. With over 25 years of experience in the business of providing expert tax advice, V P Associates Chartered Tax Advisors offer valuable information to clients to help them save money and manage taxes better.
Despite today’s turbulent economic times, spectacular capital gains in buy-to-let property and residential property prices have been witnessed in areas such as London, Surrey, Sussex and the South East of England, including the south coast towns of Brighton, Hove, Eastbourne and Worthing. In such property hotspots around the country, first-time property buyers are facing difficulties in affording a property and as a result there has been an increase in the sales of buy-to-let property and residential property. The rising house prices has further witnessed the upcoming generation being forced out of the areas where they have grown up due to unaffordability. This is more evident in the expensive areas such as Elmbridge, Claygate, Esher, Oxshott, Weybridge, Cobham and Wokingham in Surrey, where the house prices are well above the national average.
Owners of buy-to-let property or homes which have been rented during your ownership of it will be subjected to capital gains tax upon selling it. This tax must not be evaded or may not be avoided; it can certainly be planned for and mitigated, with a view to a much reduced capital gains tax liability. It is strongly recommended that you seek professional, expert capital gains tax advice before the transaction in order to maximise the retention of capital gains and mitigate your exposure to capital gains tax. V P Associates, Chartered Tax Advisors & Chartered Certified Accountants, equipped with tax expertise gained over the years dealing with H M Revenue and Customs in matters relating to capital gains help clients mitigate their CGT most favorably.
The HMRC is targeting, in “Let Property Campaign”, the Landlords who have not been declaring their:
Buy-to-let property income
income from letting of their home or part thereof
gains from the buying and selling of buy-to-let property
The Let Property Campaign allows the Revenue to investigate cases going back up-to 20 years.
V P Associates, Chartered Tax Advisors & Chartered Certified Accountants advice such landlords to make a voluntary declaration then be caught out by the HMRC, or risk facing high penalties because reduced tax penalty tariff apply on voluntary declaration. Landlords can request a confidential consultation with capital gains tax advisors on the related tax advice from V P Associates, Chartered Tax Advisors & Chartered Certified Accountants East Grinstead. This generally entails a full and complete declaration on self-assessment tax returns.
About V P Associates
V P Associates, Chartered Tax Advisors & Chartered Certified Accountants East Grinstead, are the first and foremost specialists in taxation matters. Visit their site for a comprehensive list of services including dealing with tax affairs and business accounts preparation for self-employed individuals, be it sole traders or in partnerships, self-assessment tax return preparation, limited company accounts preparation and corporation tax matters, tax planning for individuals and limited companies, VAT, IHT and succession planning and more at: http://vpassociates.com/
Company Name: V P Associates
Contact Person: Vipul Patel
Phone: 0800 160 1500
City: East Grinstead
County: West Sussex RH19 3BT
Country: United Kingdom