If you are buying a property then SDLT is important and in this episode Shaz shares an overview and key points about stamp duty land tax and answers questions about purchasing through a limited company and shares some of the benefits of buying property in this way along with valuable information about tax and limited companies 

KEY TAKEAWAYS

• If you are buying six or more units you can choose whether to pay residential or non-residential rates
• You can claim multiple dwellings relief if you are buying 2 or more properties
• If you are buying property through probate there are ways to reduce SDLT
• SDLT is vast and complicated so speak to a tax specialist
• If a property is uninhabitable when you are purchasing there are ways to reduce SDLT
• Purchasing through a limited company limits your liability
• If you have property in your own name at the end of the year you will pay tax depending on the profit you have made
• With a limited company you pay 19%, and you can control how much you take out each year

BEST MOMENTS

‘Multiple dwellings relief is a very good relief that will reduce your Stamp Duty Land Tax’

‘A limited company gives you a level of control’

‘If you’re paying your children it has to be at a commercial rate’

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

Shaz shares an overview of the benefits of having a SSAS and works through live examples from members of the audience
If you want control of your funds and the opportunity to grow a SSAS to a point where you can effectively use it then this episode has great content about the key positives of setting up a SSAS 

KEY TAKEAWAYS

• A Small self-administered pension scheme (SSAS) is a trust  where you control the funds
• With a SSAS you control what happens to your funds
• Every year you can pay up to forty thousand pounds into your pension
• You can transfer funds from your SIP to your SASS
• A SSAS requires a sponsoring company
• Lend up to 50% back to your company, with security, charging interest
• Buying commercial property through a SSAS means there is no tax on the rental
• The lifetime limit on a SSAS is a million plus
• When the interest goes into the SSAS there is no tax for the SSAS

BEST MOMENTS
‘50% can be lent back to the sponsoring company’
‘It can quickly build up to having a sizable SSAS’
‘It gets to a stage where he can be his own bank’ 

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

Shaz looks at how overseas money can be used to fund property investments in the UK and the importance of knowing the investor and having a relationship with them

This episode is a great opportunity to gain an overview of joint ventures with overseas investors and how  funds can be effectively transferred

KEY TAKEAWAYS

• They could transfer the funds to the UK and into a UK account
• Most solicitors will want you to transfer from your business account into their client account
• Solicitors have a duty under anti-money laundering rules
• Ideally, you should have an understanding of the investor and a relationship with them
• You have to ask the questions any lay person would ask

BEST MOMENTS

‘Some lenders might not like it but there will always be someone out there who will like it’

‘Ultimately it’s your responsibility

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

Shaz explains how company structure impacts tax and goes into detail about a holding company structure and how it can be used effectively

He answers questions about payments to subcontractors and explains how entrepreneurs' relief works sharing great content for anyone building a business

KEY TAKEAWAYS

• A benefit of a holding company structure is less tax
• The holding company shouldn’t do anything except holding
• If the holding company is also trading then if it goes bust all the other companies are liable to pay the debts
• The Construction Industry Scheme, set up by HMRC means you hold the tax payment for any  sub-contractors
• If you have trading status there are tax allowances you are entitled to including capital allowances and entrepreneurs' relief
• Entrepreneurs relief means when you sell a business the first million pounds is taxable at 10%
• If you breach the 20% rule you won’t be treated as a trading group and will lose some tax allowances

BEST MOMENTS

‘A company is a separate legal entity therefore if it goes bust you are not personally liable’

‘Use the money to do more deals’

‘If you are holding properties you will quickly breach the 20% rule’

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

Shaz shares the key points about claiming capital allowances including when you can and when you can't claim
If you are wondering where to get started on capital allowances, this episode is the one to listen to
KEY TAKEAWAYS

• You can claim on anything fixed to the building
• You can claim capital allowances if the previous owner hasn’t
• A commercial property or standard search enquiry, completed by the solicitor has a question about capital allowance claims
• For new items, you can claim the cost for existing items a valuer is needed to assess
• There are different pools for capital allowances
• In a large HMO, you can claim for communal areas

BEST MOMENTS
‘A new building will have its own capital allowances’
‘The longer you use it as SA the better for capital allowances’
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

Shaz is taking questions from his live audience about VAT. With lots of different questions all focused on VAT this is a great opportunity to hear great content about how VAT works in a range of different business situations
KEY TAKEAWAYS

• If you have to register there are 3 options, 20%, the flat rate scheme or a tour operators management scheme
• With the flat rate scheme, you pay a lower percentage but can’t claim VAT on items bought unless they are over two thousand pounds
• It’s better to have separate companies
• If you are below the threshold, de-register
• If you are doing  a commercial conversion, complete a VAT 1641D and give it to the seller, if they accept it you don’t pay VAT on the transaction
• SDLT is payable on the purchase price and the VAT element
• Outsource the labour and the materials and only pay 5%

BEST MOMENTS
‘If you are mixing different incomes you are more likely to breach the VAT threshold quicker’
‘Generally, there is no benefit to registering for VAT’
‘You are paying tax on the VAT
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

Shaz explains how multiple dwellings relief works and can be hugely beneficial in reducing your stamp duty land tax and the huge amounts of SDLT that can be saved if a house is classified as uninhabitable
He also looks at what you can claim for your business and explains how the key and only question you need to ask yourself is – Is it wholly and exclusively for the business
KEY TAKEAWAYS

• An annexe with a separate entrance,  kitchen and bathroom means you can claim multiple dwellings relief
• Even though the properties are on one title you can reduce your SDLT with multiple dwellings relief
• There are approximately 15 plus SDLT reliefs available
• In the first 12 months, you can change your SDLT return
• Is it wholly and exclusively for your business?  if it is you can claim the cost
• For SDLT the threshold for being classified as uninhabitable is higher
• There is a huge amount to be saved on SDLT if a house is uninhabitable 

BEST MOMENTS
‘Multiple Dwellings Relief can significantly reduce your SDLT
‘Buy properties in a limited company’
‘ If there isn’t a roof it’s not a house’ 
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

In this episode hear about the crucial questions you should be asking yourself when tax planning
From always asking whether it’s legal to understanding that HMRC interpret the rules and can be challenged this is a must-listen with great content for any business owner
KEY TAKEAWAYS

• Always ask ‘is it legal? at no point is it worth doing something illegal
• Is what you are doing effective in terms of how much you are spending and what you are saving
• Is it acceptable? Your tax planning needs to be acceptable to you
• HMRC interpret the rules and you need to look at the law
• Tax enquiry insurance is always worth having
• There is a risk assessment form used prior to any enquiry
• If you are doing SA make sure you are using the right tax rules for you
• With tax, once it’s happened you can’t go back so planning before is crucial

BEST MOMENTS
‘HMRC aren’t always right, they lose as many appeals as they win’
‘Don’t be fearful of challenging HMRC’
‘Make sure you are clear about TOMS rules for serviced accommodation’
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

Shaz explains the rules and restrictions of turning property purchases into serviced accommodation, focusing on the two models available - Furnished Holiday Lets (FHL) and Serviced Accommodation (SA).
As he continues to tutor his live audience, Shaz explores the benefit of offering services to guests, what schemes are available to help property owners pay less tax, and how multiple properties can help to alleviate some of the restrictions of an FHL.
KEY TAKEAWAYS

• A Furnished Holiday Let (FHL) must be made available for commercial letting for at least 210 days a year and rented out for a minimum of 105 days at their full rate
• If lettings over 31 days exceed 155 days in a year, your property will not qualify as an FHL
• An FHL is not considered a trading business but can benefit from many of the same reliefs
• FHL restrictions may no longer apply if you offer additional services such as breakfast, tours, and concierge
• Reduce tax using the Tour Operator Margin Scheme (TOMS)
• Furnished Holiday Let mortgages are available for properties that follow the FHL restrictions

BEST MOMENTS
“SA is supposed to be short-term lets - one night, two nights, four nights, not a month or longer.”
“Whether you’re a Furnished Holiday Let, or whether you’re a proper SA, if you go over £85,000, you’ve got to pay VAT on the income.”
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

Capital allowances can be hugely beneficial and Shaz explains how things work in both an LLP and a limited company

He also shares great content on when to claim capital allowances and how with any commercial property purchase there is potentially more than one opportunity to claim

KEY TAKEAWAYS

• An LLP is transparent for tax purposes and the capital allowances are claimed on the income
• The government wants to incentivise trade and you can claim back for fixtures and fittings that you have invested in to start your business
• An LLP is transparent for tax purposes so individual partners pay tax on the profits
• When you have no capital allowances left, you can incorporate
• Capital allowances are based on what’s in the building
• If you buy a commercial property you can claim on what’s already in the property
• Always use a commercial property standard enquiry and negotiate with the seller
• If you are buying a commercial property through a SSAS there is no tax

BEST MOMENTS

‘You only pay tax if you take the money out of the bank’

‘Claim the annual investment allowance as much as you can’

‘With capital allowances, there are two bites of the cherry’

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