In this episode, Russell and Anna Leeds, joined by Chartered Accountant Tim Gray, discuss the recent aggressive moves by HMRC against rent-to-rent landlords, focusing particularly on VAT implications. They explore the VAT situation involving the TOMs scheme and HMRC's actions against companies like Sonder. The conversation covers the financial impact of VAT on service accommodation businesses, the intricacies of the TOMs scheme, and potential changes in taxation rules. They also discuss council tax hikes for second homes and service accommodations, potential strategies for business classification, and the broader implications for landlords. Tune in to stay informed about these critical tax issues and learn how to navigate the evolving financial landscape.

00:00 Introduction to HMRC's Focus on Rent to Rent Landlords

00:20 The VAT Situation with HMRC and Sonder

03:06 Understanding the Tour Operators Margin Scheme (TOMS)

10:42 Council Tax Changes and Their Impact on Rent to Rent

16:12 Creative Solutions for Business Growth

17:02 Navigating VAT in Business

19:58 Council Tax Challenges

22:34 HMRC and Service Accommodation

25:19 Tax Strategies of Big Corporations

29:48 Concluding Thoughts and Future Updates

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