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Title: Essential Tips to Avoid Property Taxes
Subtitle: Helping You Make Sense of the Tax Changes to Increase Your Wealth
Author: Iain Wallis
Narrator: James Young
Format: Unabridged
Length: 2 hrs and 58 mins
Language: English
Release date: 05-20-16
Publisher: Iain Wallis FCA
Genres: Business, Personal Finance & Investing
Publisher's Summary:
Since the July 2015 budget, the chancellor continues to throw challenges at UK buy to let investors. Clause 24, restricting the availability of interest tax relief, the abolition of the 10 percent wear and tear allowance, changes to stamp duty, and dividends are causing significant tremors in the buy to let sector.
This book builds on Iain's best seller Legally Avoid Property Taxes, which includes 51 tax tips that you should be aware of to legally avoid tax - whether you do your own self-assessment returns or pass everything over to your accountant, he wants to make absolutely sure that you've not left any money on the HMRC table.
This book is a review of the significant changes that have been brought about by the 2015 budget, how you can make sense of these changes, and what you can do to lessen the impact of direct taxation on your property portfolio.
The 2015 budget, and in particular Clause 24 and the tax treatment of loan interest removing tax relief at the highest rates of tax, has made tax changes that will impact you wherever you are on your property journey, and Iain wants to make sure that you don't just stumble across them. Armed with the correct knowledge, these changes can be dealt with.
How you handle a property investor deal with these significant changes, as with anything, in life will determine your success in property. For some there will be massive short-term pain that may require a complete review of why they invest in property, but through that pain will come clarity and long-term gain. Some part-time landlords may now choose to exit the market, and this will help with that decision; for others a bit of tweaking will be all that is required, and for those with large property portfolios potentially some more fundamental changes.
Members Reviews:
Excellent summary for Clause 24 actions
This is an excellent summary for private Landlords wanting to reduce their tax levels and proactively deal with Clause 24. Plenty of hints, tips and ideas. Some great personal humour breaks up the dry tax subject. I would highly recommend this book.
Tax
Not the most thrilling read but good considering what it was talking about. I don't think reading this will set your world on fire but it may well save you a lot of money!
If you have even one buy to let property get this.
The major future problem for buy to let investors is the reduction of interest tax relief to a maximum of 20% by 2020. So what? Well the (complicated) way it is calculated means that it affects so many other aspects of taxation and allowances that you may be paying marginal tax rates of over 100%. Worse still you might have a tax bill on a loss. If you do nothing, expect nightmares! If you do one thing -BUY THIS BOOK.
Excellent book
This is my second book of Iain Wallis. Really helpful in understanding recent tax changes in application to real life of of ever changing tax requirements. Thank you for your expertise and advise as cited on real life scenarios.
Interesting and informative
Interesting and informative but need to listen to it again to fully understand. Thank you.
