Shaz takes a look at some of the tax allowances that you should be looking at as a property investor to make sure you are getting the most from your business

From deciding whether to incorporate through to what you can and can't claim for this is a great episode that will help anyone to look carefully at getting the most from their allowances as a property investor

 

KEY TAKEAWAYS

• Think about whether you should incorporate your property portfolio
• Look at the potential costs and then the possible savings to see if it's worth doing
• Make use of all your tax bands and those of your spouse to gain the most from your allowances
• Rent a room relief lets you earn up to £7,000 every year
• You can claim 150% of the cost through land remediation relief where you are removing contamination from a site
• Make sure you claim all the different tax deductibles and tax-free expenses
• You can claim for anything and everything as long as it's solely for the use of your business
• Tax-free allowances include staff eye tests, mileage, and trivial benefits,  
• If you are buying six or more properties from the same person together you can use non-residential rates of stamp duty land tax

 

BEST MOMENTS

‘It’s about doing the numbers and seeing if it’s worth it’

‘Become familiar with your allowances and make use of them’

‘Work out which will give you the best tax relief’

 

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.