Shaz looks at the implications for stamp duty land tax and multiple  dwellings relief when you buy more than one property

He also explains the tax implications for the property you reside in and how the occupation of a property is established

This is a great opportunity to understand more about using  stamp duty land tax and multiple dwellings relief effectively

 

KEY TAKEAWAYS

• If you are buying 2 or more properties from the same person you can claim multiple dwellings relief
• If you are buying 6 or more properties you can use MDR or non-residential rates of SDLT which might work out lower
• If you are not resident in the UK you will pay an extra 2% SDLT when you buy
• As the value of the property goes up, so does the amount of SDLT payable
• Occupation of the property is determined by electoral role, school, place of worship, registration with a doctor, dentist, and involvement in the local community
• If you buy a property valued at over £500,000 in a company that is not rented out you will pay additional tax annually
• Do not buy a property that you are going to live in through a company
• Properties bought from the same person at different times are a linked transaction and  you will pay a higher rate of SDLT on the second property

 

BEST MOMENTS

‘The home you are going to live in should be in your own name’

‘If you are buying from the same person try and buy all the properties at the same time

 

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
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•   Instagram
•   YouTube.