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PEM advise on joint venture developmentPEM recently advised on a joint venture development between a local developer and the owner of a private residence. Having listened to the objectives of the landowner, we were able to advise on a suitable structure for the project that provided him with a tax efficient fund for retirement.
PEM’s advice included identifying the optimum time to transfer the residence into the joint venture vehicle in order to both shelter the capital gain for the landowner and minimise the taxable profit within
the joint venture vehicle. We also alerted the parties to previously unidentified SDLT charges, ensuring that adequate financing for the venture was secured upfront.
As part of our service, PEM provided a timetable for various actions throughout the development. We remain in touch with the developer to ensure that these tax obligations / considerations do not get overlooked during the course of the often complex and time pressured construction process.
PEMSalisbury HouseStation RoadCambridge CB1 2LA
t. 01223 728205f. 01223 461424e. [email protected] pem.co.uk