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Property & Construction sector

Our multi-disciplinary property team can draw upon their deep commercial experience from across the sector to help ensure your business can not only survive the current crisis, but also thrive when it’s over.

The property sector is a vital part of the economy, with both domestic and international developers finding the UK an attractive place to invest.

However, the start of 2020 has bought challenges to everyone across the sector. The Coronavirus crisis stalled many transactions, closed construction sites and saw many landlords facing cash flow problems as a result of the non-payment of first quarter rents.

As our year has unfolded some green shoots have emerged - the residential market leapt out of the starting blocks due to pent-up demand, further fuelled by a Stamp Duty Land Tax (SDLT) holiday and construction sites have reopened with many businesses embracing a few more ’modern methods of construction’ in response to the more restrictive working environment.

More than ever before, participants in the industry need to focus on commercial decision making, managing their costs, raising funds efficiently and mitigating the inherent financial risks in their activities.

Surviving and thriving

We are working with our clients to help them manage the immediate cash-flow issues, access the various Government support schemes, and avoid some of the tax pitfalls that have arisen as a result of the conditions we are working in so that they can not only survive the current crisis, but also emerge in a position to succeed in 2021.

When the Covid-19 restrictions cease, promised investment in infrastructure, large-scale development projects and the demand for housing in the UK mean that there will be clear opportunities available. And unlike the last recession, raising finance for the right project is not expected to be an issue.

However, managing costs, structuring deals appropriately and managing all risks will be key to the success of a project, and these are all ways that our team can help you.

How we can help you

We work with participants across the industry, onshore and offshore, from individual investors and land or site owners, to property companies, developers and housebuilders.

The range of services we provide these clients includes:

  • Deal structuring advice: What is the best structure to use to acquire the site or investment property you’re looking at? Is it a company, a partnership, a fund structure, or something else? We can advise on the structure that best works for you, your investors and the specific project you are planning.
  • Tax advice: The structure you chose will be influenced by the UK tax regime. We have experts in corporate and personal tax, Stamp Duty Land Tax (SDLT) and VAT, and will ensure that that all taxes are considered when recommending a structure to you.
  • SDLT: Sean Randall, a key member of our team, is a leading expert on SDLT. He advises on how to minimise SDLT on a transaction by making use of all available reliefs.
  • VAT planning and transaction support: Our VAT planning and transaction support experts are an integral part of our team, and we ensure that VAT is considered at all stages of a project. Importantly, doing so can avoid considerable liabilities on any transaction.
  • Reporting: Our outsourced accounting and management accounting service provides you with reporting that allows you to monitor the progress of your project against budget. These reports will also assist in managing your cash flow; an essential task in 2020.
  • VAT and Construction Industry Scheme (CIS) return submission: We can prepare your VAT and monthly CIS returns, ensuring that they are compliant and submitted in a timely manner.
  • Year-end accounts and audit: We can prepare your year-end accounts, tax returns and, if required, audit thereof.
  • Succession and inheritance tax planning: We can ensure that key issues like succession and inheritance tax planning are considered and reviewed regularly as circumstances change.

Client stories

Smart-modern-housing-development

Tax efficient structuring of a built-to-rent investment

Chelsea-Street

Reviewing SDLT reclaims

Georgian-terraced-street

Resolving an SDLT dispute with HMRC

Property insights

23 June 2021

Can you pay less Stamp Duty on a second home?

Buying your second home before your main residence might avoid the additional 3% Stamp Duty Land Tax

23 June 2021

Government tax receipts bounce-back and residential property transactions are the highest since 2007

HMRC tax receipts in the last 12 months exceed pre-pandemic receipts for the same period in 2019 writes Paul Haywood-Schiefer (Senior Manager)

17 June 2021

Landlords face no income from rent for two years

Landlords whose tenants stopped paying rent at the start of the moratorium are facing the prospect of no income for two years following its extension.

Would you like to know more?

If you would like to discuss any of the above or have other queries about how you can make the right decisions for the future of your property or construction business, please contact one of the partners below.

Our experts

Head of Property & Construction

Heather Powell

Partner

Richard Churchill

Partner

Sean Randall

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