Shaz shares a succinct rundown of the updates in the budget that specifically affect property investors.

This great informative content on income tax, capital gains tax, stamp duty and super deductions means that for the property investor this is a fantastic quick and easy overview of what is going to matter moving forward through 2021 and beyond.

 

KEY TAKEAWAYS

• Capital gains tax was expected to increase but it remains at 28%  and 18% for residential gains and 20% and 10% for non-residential gains.
• As expected the rates of income tax and NI have been held for 2021 -2022
• If you hold property in a limited company and you make gains then you are subject to corporation tax at 19% but this will be increasing in 2023 to 20%
• From 2023 it will be important to plan the timing of the disposal of property for capital gains purposes
• Stamp duty has been extended until June 2021 the lower rate of SDLT won’t return to its level of £125,000 until October but the tax on  additional property of 3% will still apply
• Property between 500,001 up to million pounds will incur tax payments of 3,700 each year
• Super deduction for capital allowances will be up to 130%

 

BEST MOMENTS

‘The stamp duty holiday was extended until the end of June’

‘It’s good news overall for property investors’

 

VALUABLE RESOURCES

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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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