Expert Property & Construction Accountants
From planning to project completion, we’ve got your accounts covered.
RWB Chartered Accountants help a variety of clients within the property & construction sector from start-ups and one-off projects to experienced investors, architects, and nationwide development businesses. We have a wealth of knowledge regarding the complexities of the sector and how to identify profitable opportunities within any area of the industry.
We are based in Nottingham – a city with one of the UK’s most active property investment markets, which is why we specialise in property accounting, tax compliance, and strategic advice. Unlike many generalist firms, we offer deep sector expertise tailored to the needs of property professionals.
We understand that every client is different and requires a unique, tailored solution to reach their potential. Therefore, all our clients are supported by an experienced and qualified property team who can handle all areas of property accounting and tax. Clients can be rest assured that they are in very safe hands.
Residential Property
With many years of experience in the sector, we help clients on a wide range of residential property tax matters including reducing tax and costs on refurbishments, incorporating existing property portfolios, qualifying for reliefs, getting money out of a Limited Company, profitable IHT planning, being tax efficient and the benefits of using trusts.
Our accounts and tax services include: -
Property accounts
Property tax advice
Bookkeeping
Business structure advice
Tax returns
VAT advice when converting property
Property development and construction
Our experts can help you in this, often complicated, area. All of our custom advice is provided from our qualified team.
Accounts and tax services include: -
Property accounts
Property tax advice
Bookkeeping
Audit (where applicable)
Advice and assistance when raising finance
VAT planning
Stamp duty land tax planning
Maximising capital allowances
Advice ensuring work in progress and income recognition is correctly accounted for
CIS Returns
Asset classification and treatment
Why choose RWB?
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We have decades of experience in helping clients with a full suite of accountancy services. Our diverse and dedicated team specialise in everything from Personal Tax and Corporate Accounts to Inheritance Tax Planning and Forensic Accounting.
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We are governed by the ICAEW, which has the highest standards of integrity and ethics.
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We have a rigorous protocol: all completed work is checked by your dedicated client manager and then again by one of our directors
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Our meticulous procedures significantly reduce the risk of anything being missed or completed incorrectly.
What our clients say
“The whole team is very efficient and responds to any questions or queries immediately. We are very happy with the service.”
— Mrinal
“This is my 41st year as a client of RWB or its predecessors. The service has always been superb and, even better, friendly.”
— James
“Nick Bonnello and the team have always been on hand to offer excellent advice and guidance at every step of the way. I can’t recommend them enough!”
— Dan
Contact us
Would you like to learn more? Our team are happy to help!
FAQs
What taxes do property investors need to be aware of?
Property investors need to be aware of several tax factors, including Stamp Duty Land Tax, Capital Gains Tax, and Income Tax on rental earnings. Additionally, incorporating a property portfolio can have tax implications. Our team is here to help you understand and navigate these tax aspects, ensuring your investments are held in a tax-efficient manner.
How does VAT impact property and construction projects?
The application of VAT on property is intricate, varying based on whether the property is residential, commercial, newly built, or refurbished. Some property transactions are exempt from VAT, while others may incur a 5% or 20% VAT charge. We offer expert advice on VAT recovery, the option to tax, and compliance with the Construction Industry Scheme (CIS) VAT requirements.
How does Capital Gains Tax apply to property disposals?
When selling investment properties or land at a profit, CGT becomes applicable. While individuals have an annual exemption, those in higher tax brackets might face a 28% tax on gains from residential properties. Utilising reliefs such as Principal Private Residence Relief and Entrepreneurs' Relief can reduce tax liabilities.
What is the Construction Industry Scheme (CIS), and how does it affect contractors?
Under CIS, contractors are required to withhold tax from payments made to subcontractors and remit it to HMRC. Non-compliance can result in penalties. We provide guidance to contractors on CIS registration, accurately deducting taxes, and recovering overpaid taxes.
How can landlords effectively reduce their tax liabilities?
Landlords can lower their tax obligations by claiming relief on mortgage interest (restricted to the introductory rate for individuals), allowable expenses, and capital allowances. Incorporating a property business might offer advantages, but this depends on an individual's unique situation. Our bespoke strategic tax planning helps landlords optimise their rental income.
Is it better to purchase property through a company or personally?
Your decision should take into account your tax situation, investment strategy, and future objectives. Companies enjoy lower corporation tax rates but may incur higher Stamp Duty Land Tax and Annual Tax on Enveloped Dwellings charges. Conversely, individuals pay income tax on rental gains and Capital Gains Tax when they sell. We assess your specific circumstances to recommend the most suitable ownership structure for you.
What is the Annual Tax on Enveloped Dwellings (ATED), and who is subject to it?
ATED is levied on companies that own residential properties valued above £500,000, with annual charges ranging from several thousand to over £250,000. However, property developers, rental businesses, and charities may qualify for relief. We ensure compliance with ATED and assist clients in claiming eligible reliefs.
Can property developers benefit from claiming capital allowances?
Absolutely. Developers can claim capital allowances for certain costs associated with commercial properties, such as fixtures, plants, and machinery, which can substantially diminish taxable profits. As Chartered Accountants who specialise in Property Tax, we can identify qualifying expenses and secure the maximum relief.
What are the tax considerations when transferring property to family members?
Transferring property may lead to Capital Gains Tax and Inheritance Tax (liabilities, but strategic planning through Trusts, Holdover Relief, and Business Property Relief can help minimise these. We offer specialist guidance on tax-efficient property succession planning.