I have been dealing mostly with self employed and normal trading companies for number of years and my focus is mostly on updating my self with these clients in mind. however I have been refusing to take on property developers clients because I am not competent in this area but now I have decided to dig more and concentrate on it for while to get all the info as they think I am too busy to refuse them which is also true :)
My goal is to get comptence in Residential Property Development using companies and any VAT implications, Tax planning and exit strategies/selling and gifting shares of these companies if applicable.
For example this last client approached me that I could not take on.
Husband and wife, bought this old house with a land for 750k. They plan to renovate the house and are in process to get plannig to build 4 house on the land. once the planning is granted they will try to raise finance from the bank and sell all property when completed. Director loans are about 500k each and the ongoing cost of clearing the land/architect is about 100k by now.
I could treat it as normal trading company, allocate all the cost to the project however I am not confident on how to deal with it when the houses are built and to apportioned the costs etc and what if later on they decided to let it instead.
Looking for any specialist day/two CPD anyone can recommend or anyone here has very good experience to train/guide me. happy to pay for your time.