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Commercial Property

Our expert in commercial property is Chris Parker, solicitor, who can be contacted on 01429 230029 or cparker@tmjlegal.co.uk and deals with commercial property work at all our offices.

Our areas of expertise include the following:

Property – non contentious

Property – Contentious

Property – Commercial – Transactions

LANDLORDS

Are you paying too much tax on your rental income?
Do you own your rental property jointly?
Have you considered varying the beneficial interests in your jointly owned rented property to make sure most of the income goes to the lower rate tax payer?
This can be done without a transfer of the legal title so no need to contact your lender or make an application for registration to the Land Registry.
It is a simple matter of completing a Declaration of Trust and then giving notice within sixty days to HMRC. The higher rate tax payer can take as little as 0.01% of the income. Provision can be made to revoke the arrangement; again, notice must be given to HMRC. This might be necessary if personal circumstances change or you are selling and there are Capital Gains Tax implications.
We can assist with the preparation of the Declaration of Trust and will be able to liaise with your accountant or, if you do not have an accountant, assist with the notice to HMRC.
Our policy is to offer free first discussions. Why don’t you ring us? 0191 383 0111 or 01429 235616 and ask to speak to Clair Dunkerley or Catherine Turner. Alternatively send an email to cdunkerley@tmjlegal.co.uk or cjat@tmjlegal.co.uk