Overview

Providing real estate tax advice can be complicated and may depend on where the person owning the property is situated. Our team of industry-leading tax lawyers is well-attuned to the different requirements of our clients, and is alive to the issues and opportunities that exist when purchasing UK real estate.

We offer comprehensive advice on all areas of real estate tax law, including the tax implications of property investment, financing and development transactions. We work closely with our real estate team to deliver a high-quality and cost-effective solution to often complex tax issues, including corporate taxes, stamp taxes, ATED, VAT and capital allowances.

Clients and beneficiaries alike recommend us for our diligent and pragmatic approach to their real estate tax matters, which include establishing property funds, safeguarding clients tax risks on property deals and investments, property-related securitisations and tax issues arising from land assembly projects.

Areas of focus

Our expertise in real estate tax includes advice in relation to the following:

  • Authorised and unauthorised property funds.
  • CIS analysis and planning.
  • Property-related securitisations and structured financing.
  • Stamp Duty Land Tax analysis and structuring.
  • VAT including structuring, going concerns, valuations, groups and the capital goods scheme.
  • Capital allowances.
  • Inward investment into the UK investment and development property market using UK acquisition and non-UK acquisition vehicles.
  • Restructuring advice to non domiciliaries and non-UK trusts owning (in each case) UK real estate.
  • Land pooling and other land owner arrangements re land assembly and disposal.
  • The application of entrepreneur's relief to trade related land disposals.
  • Artificial transactions in land implications of acquisition, development and disposal by UK and non UK clients.
  • Tax implications of acquiring and holding UK property via companies, partnerships, limited partnerships and LLP's.
  • Deductibility of interest issues for individuals and partnerships owning buy to let properties and issues around the incorporation of such businesses.
Experience

Providing The Crown Estate Commissioners with SDLT and VAT advice on a £200 million redevelopment of properties in London.

Advice on the purchase of an offshore wind farm by a German Infrastructure Fund.

Advising an overseas investor on the most appropriate structure for investing in a substantial UK hotel development involving Opco/Propco structuring, including consideration of shariah finance issues.

Advising BVI based private equity fund in relation to their investment in UK real estate through Jersey SPVs. Providing advice on the whole spectrum of real estate taxes including artificial transactions in land, land dealing, corporation tax, VAT, stamp taxes, and capital allowances.

Advising a family of landowners on the most appropriate way of maximising tax reliefs in order to unlock value in respect of a large area of land which was zoned for redevelopment. Arranging for various partnerships to be altered, terminated and disposals made in accordance with a particular timetable.

Advising The Crown Estate Commissioners in connection with the £56 million acquisition of the Westgate Shopping Centre in Oxford, focusing in particular on the VAT (in particular TOGC) and SDLT issues.

Providing tax opinion for a non UK based property investment fund acquiring properties for £300 million.

Advising on the acquisition of a property SPV owning a substantial investment property, and tax advice on managing tax risk associated with the pre-transaction "strip out" of assets which were not to be sold into the vendor group.

Providing tax advice relating to a redevelopment in Bath carried out as a joint venture, including funding and refinancing issues.

Advising the trustees of Broadlands Land Trust on a land-pooling arrangement.

Providing SDLT advice in respect of the construction of a biomass plant which affected various pieces of adjoining land and cross rights of way.

Acting on the acquisition of a number of hotels from a group in administration, including advice on the transfer of a going concern rules, VAT grouping and capital allowances.

Providing SDLT and VAT advice in relation to the development of a large shopping centre including the surrender and re-grant of an existing lease and the carrying out of various development works.

Advice to The Crown Estate in relation to the surrender and regrants of AHA and FBT tenancies.

Advice to The Church Commissioners in relation to the disposal of development land involving a number of seller consortium arrangements.

Meet the team
Headshot John Barnett

John Barnett Partner

  • Head of Partnerships
  • Private Client Services
  • Tax
Ian Carnochan

Ian Carnochan Partner

  • Tax
  • Corporate Tax
  • Real Estate Tax
Hilary-Barclay

Hilary Barclay Partner

  • Tax
  • Mergers and Acquisitions Tax
  • Tax Advice for Companies and Shareholders 

Real Estate Tax

Great team, works well across the firm to assist transactions.

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