Simon talks about why it might be wise for you to think about why it might be wise to set up a company through which to operate your property investing business, and the main benefits you can reap by doing so.

KEY TAKEAWAYS

• Historically, buying a property in your own name was beneficial, usually for tax reasons. Plus, many more offers would be open in terms of mortgages.
• In 2015, Section 24 was introduced, and meant a change in the way that property investors were taxed. This meant that any property owned and mortgaged in your own name, there was more tax to pay on rental income.
• Expenses can be offset through your business, which reduces the profit, leading to a lower tax outlay for you. Only legitimate expenses can be accounted for, but as many as possible should be funnelled through the company.
• Expenses can also be backdated, and can be claimed for up to six months later, meaning that purchases made in the outset can be claimed for. You can also lend money personally into the business, and once up and running, that loan can come back to you.

BEST MOMENTS

'This was a major blow, and many investors moved their properties into a company'

'The costs have come down, dramatically'

'There are many benefits to using a company to invest'

'Your business pays for it from pre-tax money, instead of post-tax profit'

VALUABLE RESOURCES

Property Magic: How to Buy Property Using Other People's Time, Money and Experience by Simon Zutshi

Find out about the Global PIN Meetings at www.globalpinmeeting.com

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ABOUT THE HOST

Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32.

Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk.    pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors.

Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way.  How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth.

Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book.

Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.

CONTACT METHOD

Contact and follow Simon here:

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