How to a void tax trapsdevelopment land sales

摘要

There are significant tax traps when selling land for development or getting involved in the development itself. Planning ahead and taking professional tax advice could save time, money and stress.Laura Wylie, senior tax manager at farm accountant Old Mill, says the key to any land development sales is understanding the implications early in the process."Every situation is different and could require things such as restructuring of land ownership to avoid tax pitfalls," she warns.