ASIA ADVISORY SERVICES GROUP | BDO PRIVATE CLIENT SERVICES 08
HOWWE CAN HELP BUYING A PROPERTY
PURCHASING PROPERTY IN THE UK?
ARE YOU CONSIDERING PURCHASING A UK PROPERTY INTHE UK OR IN ASIA? Whether you are looking to acquire a family home, holiday home, investment in residential/commercial property or purchase/start up a business in the new country, we can advise at all stages of the process.
Typically, properties are acquired through the following structures; X Personally or jointly with family X Non-UK trust X Non-UK or UK company. The optimum structure for purchasing a property in the UK, will be dependent on the specific fact pattern and long-term objectives. This will include considering factors such as; X Is the property being acquired for occupation or investment purposes? X Is the property expected to be held for the long term or sold in the short to medium term? X Is the property expected to be rented? X Is it envisaged that the property will be passed on to future generations?
UK PROPERTY STRUCTURING Recent and proposed changes to UK taxes make it essential to seek tax advice prior to making an acquisition of a residential property in the UK in order to avoid adverse tax implications. Further, certain qualifying investments in eligible UK trading companies may be made tax-efficiently under the non-domicile remittance basis regime, under a specific relief designed to encourage business growth in the UK. For maximum benefit, advice should be sought prior to any transactions being undertaken. We will use our local knowledge and experience to provide the necessary tax advice to identify the most beneficial purchasing structure and to guide you through the reporting and compliance procedures to help make the process as smooth as possible. We can also make introductions to real estate agents, private bankers, lawyers and corporate finance experts as required. There are a number of different ways that you can acquire property in the UK, with each option having its own particular UK tax advantages and disadvantages.
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