Shaz shares great advice and shares 4 live cases which demonstrate how people can inadvertently miss out on tax relief opportunities in this episode that focuses on tax.

It’s about getting the most effective tax outcome for yourself and to do this you need to work with an expert prior to making any changes or beginning a new project. You also need to ensure that you have ongoing access to tax expertise on a day to day basis especially when you are growing a property portfolio.

Every situation is different and there are always variables so it’s vital you understand the situation as it is currently and the implications moving forward if you want to get the best outcome.

  

KEY TAKEAWAYS

• With tax, it’s important you enter into the arrangement or know what the steps are before you begin.
• If you buy a property that is uninhabitable you can make a claim for SDLT (Stamp Duty Land Relief) to make this claim its best to do this before you purchase or within the first 12 months.
• Talk to the expert in advance but ensure you have the expertise to hand on a day to day basis. It’s about getting the most effective tax outcome for yourself
• Stamp duty tax is one of the least understood and most misunderstood areas of Tax.
• One of the most important things for any business is to have the right structure.
• There are certain tax reliefs that are only available to limited companies such as land remedial relief, R and D tax credits and investors relief.
• Section 24 alone shouldn’t be the only reason to incorporate.
• If you have a larger portfolio and incorporation doesn’t work for you then having a management company maybe the way forward.
• You can get life insurance to cover inheritance liability.

  

BEST MOMENTS

‘Stamp duty is complicated but there are opportunities out there’

‘Don’t assume you will have to work out the different thresholds for SDLT there are many variables out there’

‘Never let the tax tail wag the dog’

 

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:

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