Shaz answers questions from property investors about the potential tax implications when you incorporate and move properties into a limited company and when you own properties with other people

There is more great content and advice that anyone with property can effectively use in this episode

 

KEY TAKEAWAYS

• With the flat rate scheme once you are over £225,000 you go onto the standard rate for  VAT
• TOM’s flat rate works for you as a small business
• If a guest stays for over 28 days there is no VAT chargeable
• Your asset has been sold from an individual to a limited company
• A limited company is a separate legal entity
• If you own at least five properties and spend around twenty hours a week working on your business you may qualify for section 162 incorporation relief
• If you move the properties into a limited company there is no capital gains tax to pay
• If two or more people own the properties together and incorporate there is no stamp duty or land tax to pay

 

BEST MOMENTS

‘When you make the disposal you don’t have to pay capital gains tax individually’

‘If you have a business and it incorporates you can claim 162 incorporation relief and have no capital gains tax to pay’

 

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 consultations 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.