Shaz shares more great advice in this episode where the questions range from claiming Principle property relief through to land remediation.

Shaz also takes us through 2 examples of his own property development projects explaining in detail both what went well and the challenges he met and overcame during the development process. If you have an accountant and advisor who are knowledgeable you are able to make all aspects of tax relief available work for you throughout a development project. The real key is to have access to the right level of expertise.

 

KEY TAKEAWAYS

• If you can prove you have to move around and it’s your principal residence then you can claim PPR.
• On a standard residential property, you can’t claim capital allowances. If you have serviced accommodation or commercial property you can claim capital allowances.
• As soon as the trade becomes investment you can’t claim capital allowances.
• The bigger you become the more useful it is to separate the trading and the assets.
• A number of operators keep their assets in one company and their trading in another.
• The person who spends the money is the person who can claim the capital allowances
• If they don’t claim and sell the property then the new owner can claim
• If it is a capital expense then you can claim capital allowances.
• If a property has some sort of contamination then you can claim land remediation relief.
• If you gift the use of the property to a charity until it has planning permission then it’s possible for the charity to claim back the cost of the business rates.
• None of what we do is racy, pacey or risky it’s what you can do if you work with an accountant and advisor who knows what they are doing.

 

BEST MOMENTS

‘Sometimes in property you just have to keep going and not give up’

‘There will be challenges in a property development project, it’s knowing how to deal with them’

‘It’s about working with an accountant and advisor who know what they are doing’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.