Shaz talks all things tax relief in this online presentation. He shares how he has made savings himself with examples from his own property development projects and answers questions about the best ways to purchase property either solo, with a partner or in a limited partnership.

The questions are wide-ranging and Shaz includes great advice on how to save tax and claim tax relief if you are a business owner.

It can be very easy for people to miss out on tax relief simply because they don’t know how to structure or what to claim but this is a great opportunity for any business owner to start thinking about what you could claim.

 

KEY TAKEAWAYS

• If you are looking to do a commercial conversion to claim the VAT complete and file a VAT164OD this identifies you are changing to commercial.
• When you obtain planning there is an uplift in value and moving the property from a partnership to a limited company means that in the future you sell the property you will reduce your capital gains tax on the asset.
• You can claim land remediation relief when you have to remove hazardous materials such as asbestos.
• Gifting use of a property to a charity will mean they become liable for business rates, but they are able to claim back this cost.
• You can claim additional capital allowances for new fittings when you are creating serviced accommodation units.
• If you move properties into a limited company you are only liable for corporation tax on the balance of the profits.
• People should explore different business structures dependent on the project they are completing.

 

BEST MOMENTS

‘We were able to save over £100,000 in tax relief through smart thinking’

‘A limited liability partnership is the same as a standard partnership with the bonus of limited liability ‘

‘If you own property in your own name you are not a sole trader’

 

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:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.