Property – Domestic and International

Despite the global downturn and the slump in the Irish market, there are still people buying and selling property or managing a portfolio. Such persons need to take cognisance of the related tax issues, which are just as important as ever.

RSM Farrell Grant Sparks has leading experts on the tax issues involved in the purchase, structure and sale of domestic and international property. Our team delivers tailored taxation solutions for clients, who range from individual investors to developers, family businesses, large companies, syndicates and not-for-profit organisations.

Property and tax issues

Typical tax issues can include:

• Taxes on purchases (e.g. Stamp Duty) and sales (e.g. Capital Gains Tax)
• VAT
• Capital Allowances
• Tax relief for loan interest
• Taxation of rental income
• Personal and corporate tax residency rules
• Inheritance and gift tax issues

We give advice and practical support for all types of property transactions, working closely with clients’ legal advisers. We also advise on the transfer of assets to children and trusts.

Our membership of the RSM International network gives our clients unparalleled access to worldwide expertise in the property sector.

Tax planning

There are many ways that you can acquire property – as an individual, through a limited company, a pension fund or several other options.  The choice you make has a significant bearing on your net after-tax return on investment. RSM Farrell Grant Sparks ensures that careful tax planning minimises future potential tax costs.

Funding structures

Property investors need to be able to make informed decisions on funding property investments.  You need appropriate structures for debt and equity finance, including servicing and repayment mechanisms.

RSM Farrell Grant Sparks has the expertise and experience to identify the funding options and assess the Irish and international tax status in each case.  Commercial and legal considerations are balanced with tax advantages in choosing the optimum funding structure.

Costs of property ownership

As a property owner, you will want to avail of tax deductions for property costs which you incur during the period of ownership. Our tax specialists give you expert, informed advice on optimising such tax deductions.

Rural renewal

The Longford office of RSM Farrell Grant Sparks has very strong tax expertise on rural renewal property tax reliefs. The firm has produced a brochure on this in conjunction with Longford County Council.

Property taxes and not-for-profit

VAT on property has become a huge issue for charities and other organisations in the not-for-profit sector. Recent complex legislation is a minefield which could result in unexpectedly large liabilities for the unwary.

Related services

Read about services related to taxation and property:

• Corporate Finance
• Bankruptcy
• Insolvency
• Audit Revaluations
• Property

RSM Farrell Grant Sparks has very strong property expertise in each office. Partners with particular experience include Pearse Farrell, John Lyons, Declan Taite, Niall Rice and Deirdre Kiely.