Manchester accountants have to cope with some very specific situations – and the impact that some local schools can have on property tax is just one of those issues.
Figures from Lloyds TSB reveal that Manchester is very much the UK’s ‘second city’ when it comes to education, with house prices near some schools seeing a massive premium compared to the overall average for the north-west.
While it sits in the WA14 postcode area, Altrincham Grammar School for Girls is less than ten miles down the A56 from Manchester city centre, and many residents of the area head into the city to consult property accountants in one of the country’s main centres for financial services.
According to the Lloyds TSB survey, the area ranks second behind only north London’s Henrietta Barnett School for house price hikes.
The north London postal district containing the school ranks at 91% higher than the average house price in surrounding suburbs, while in the WA14 district, houses are 74% more expensive than across the county as a whole.
Inflation of this kind can have a specific impact on property tax, particularly if you have owned your home for some time, and seen it rise substantially in value as your local school has gained popularity.
Our Manchester accountants are ready to advise on such issues, and our specialist property accountants can help you to understand the specifics of issues like capital gains tax, and how they apply to the sale of your home.