Taxation allowances surveyors combine the skills of a Quantity Surveyor with their knowledge of construction and experience of legislation, accounting and investment.
They advise clients on the tax allowances available and the requirements of asset segregation to comply with their client’s and the taxing authorities’ requirements.
The market in which taxation surveyors operate is predominately commercial i.e. offices, industrial and retail. However, this also extends to other areas such as utilities, transportation and public services buildings usually when funded by private capital.
Advice is given on transfers of existing land and property as well as new construction. For existing land and property, the service usually includes a tax assessment at acquisition and a proposal to safeguard the client’s position on any subsequent disposal. For construction, the service includes an assessment of potential tax allowances arising out of construction activity and a proposal to minimise the client’s tax liabilities. Construction expenditure covers new build, refurbishment, fit out, extension and demolition including land remediation, etc.
The role is two-fold. Firstly, to give strategic advice on the alternatives allowances available, and secondly to quantify the value of the tax allowances. This will often include reaching an agreement with the relevant body such as the tax authorities and their agencies.
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The pathway guide should be used in conjunction with the core assessment documentation available below.