| More and more professional landlords are turning to | | | | should include are the different types of property |
| specialist property tax calculator software and it is | | | | ownership that there are in the commercial property |
| easy to see why. Capital gains tax calculations can be | | | | marketplace. There are a number of property |
| hugely complex, the consequences of not paying | | | | ownership and investment scenarios such as sole |
| enough tax can be far reaching and can lead to | | | | ownership, joint ownership and multiple ownership. |
| financial hardship such as bankruptcy. | | | | When calculating tax liability the product should be able |
| As with any financial software product you will need | | | | to take into account the relief factors which are key to |
| to do your research and choose wisely. Where | | | | tax planning and these include personal capital gains |
| possible you should look for a product that you can | | | | tax allowances and private residence relief. |
| see in action before you commit to purchasing it. Look | | | | There have been a lot of changes to the rules |
| for demonstrations at trade fairs and check out | | | | surrounding capital gains tax recently and they have |
| independent reviews of products online and in trade | | | | been fundamental changes. You should ensure that |
| papers. | | | | any product that you invest in is bang up to date and |
| There are many benefits to be had from using a good | | | | that it comes with good post sales technical service |
| property tax calculator. You would, for example, know | | | | be it a telephone based or desk top service. |
| what the tax liability would be if you were to sell a | | | | User friendliness is the key feature that you should |
| property from your property portfolio. This information | | | | look for in any product. The point of the product is that |
| is vital for both short and long term decision making | | | | a professional landlord with little or no tax knowledge |
| and effective financial planning. With good software | | | | can quickly calculate capital gains tax liabilities. Just think |
| you can plan and manage potential tax liabilities by | | | | of the time you could save by not having to set up |
| using the 'what if' scenario feature that good products | | | | and manage complex spreadsheet models before |
| incorporate. You can also go back and check that you | | | | spending hours on the phone to the Inland Revenue to |
| have paid the correct level of capital gains tax in the | | | | check the current position. Think too of the money you |
| last few years. Nobody wants to pay too much tax. | | | | could potentially save on accountant's fees. |
| Other key features that a good software package | | | | |