Dare Property

10 Top Tax Tips

Use your annual allowances.

Co-ordinate overseas and any domestic disposals. Don't treat them in isolation as you often pay UK Capital Gains Tax (CGT) on both.

Pay attention to the timing of disposals. It may be better to delay a sale to the following tax year, especially if you have generated capital gains in the UK or you have a higher than usual income in the current tax year.

Likewise, selling a few days before the end of the tax year can cost you a whole year of taper relief.

Set as much as legally possible against your tax liability. Keeping detailed records and receipts of expenditure helps with this.

Ensure you understand all local tax liabilities before investing - agents can be forgetful when it comes to mentioning wealth taxes and the like!

Be very wary of underdeclaring the price you paid. It is illegal and can land you with heavy additional tax liabilities.

If puchasing multiple units, take professional advice on the possibility of using offshore tax saving vehicles.

If appropriate, start inheritance tax planning as soon as possible. In the UK, inheritance tax free gifts can be made annually with some provisos.

Always take indpendent professional advice.