Commercial Property Acquisitions and Sales

• Pragmatic advice with a cost-effective and practical approach

• We provide you with accurate and transparent pricing so you can manage your budget effectively

• Practical support and advice, which is jargon-free

• Focus on helping you to achieve your business goals

• Specialised, expert knowledge across a range of industries

• Significant expertise across a range of Legal issues

“We find PA Duffy & Co to be a very professional & efficient firm to work with. Dealing with Jenny & Kieran primarily we find them extremely helpful. We would highly recommend PA Duffy & Co.”

“I have been using the services of P.A. Duffy and Company for the past number of years in various property sales and purchases. I have developed an excellent business relationship with Kieran and his conveyancing team who are always very responsive to my concerns and any issues that arise. No problem is too big or too small!”

“I had my first dealings with P.A. Duffy back in 1981 and still rely on their experience, professionalism, and responsiveness to navigate through the legal system. Emma and the team looked after a recent sale, everything went like clockwork, and if I needed any help or advice they were there every time. Brilliant service. Many thanks to all the team at Dungannon.”

The time it takes to complete a commercial property sale in Northern Ireland can vary significantly based on various factors, including the complexity of the transaction, the parties involved, and any legal or financial issues that may arise.

The total duration of a commercial property sale in Northern Ireland typically ranges from 3 to 6 months, but it can extend beyond this in more complex cases. It's essential to have experienced legal and financial professionals to guide you through the process and help ensure a smooth and efficient transaction.

Keep in mind that this timeline is a general guideline, and individual cases may vary. The specific circumstances of the transaction, such as any legal or financial complications, can influence the timeline significantly.

Taxes can significantly impact the overall cost and financial aspects of a commercial property transaction. The main taxes to consider include:

• Stamp Duty Land Tax (SDLT): SDLT is a tax paid by the buyer on most commercial property transactions in Northern Ireland. The rate and amount of SDLT depend on the purchase price of the property. There are different SDLT bands and rates, with higher rates applied to more expensive properties. It's important to calculate and budget for SDLT when planning a commercial property purchase.

• Capital Gains Tax (CGT): CGT may apply to sellers if they make a profit on the sale of a commercial property. The rate of CGT depends on various factors, including the seller's overall income and whether they qualify for Entrepreneur's Relief (now known as Business Asset Disposal Relief). The rate can range from 10% to 20%.

• Inheritance Tax: If the property forms part of the owner's estate upon their death, it may be subject to inheritance tax. The rules and thresholds for inheritance tax are complex and can depend on the value of the estate and any available exemptions.

Tax planning is an essential aspect of the overall financial strategy for any commercial property sale or purchase in Northern Ireland. Our expert team will be able to ensure we work with you and assist you with a financial plan.