In Conversation With Progressive Propertys Mark Homer!
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It’s a very special crossover episode this week. Shaz joined entrepreneur investor, and co-founder of Progressive Property, Mark Homer, on the Mark My Words podcast, where he discussed everything from current projects and deals, tax strategies that have worked, the ways in which business can serve the community, and some of the tax misconceptions that might be needlessly costing you money.
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The whole conversation is presented for you today!
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KEY TAKEAWAYS
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- A No-Money-Down strategy has worked for Shaz lately. He’s just begun a project involving the building of several properties in a development, without spending any of his own capital. They say “money down doesn’t work”, but Shaz and Mark are of a very different opinion. \\n
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- Previously, there was no tax to pay on dividends until you used up your basic rate and that’s why people used a corporate partner. That’s also why the rules were changed in 2014. \\n
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- Large corporates can be brought to places like Peterborough, because the students who study at the university there, are highly desirable in terms of hiring potential. This creates jobs, which in turn benefits the city. \\n
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- Not everything can go right all the time. Sometimes things go wrong. You can’t prepare for every failure, but you can learn from them. \\n
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- Shaz predicts that councils will soon own more of their own stock, and that housing associations will diminish. The profit can then go back to the councils, which means more public spending, which is a complete win. \\n
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- People should always look into as many tax reliefs os possible, especially hybrid reliefs. Shaz recommends that use of home office for your business can stretch to several rooms, and therefore be larger, if you are holding stock at your home. \\n
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- Saving money through tax is far more economical for you. If you save £138,000 through your business, then you may only end up with half that due to those savings being taxed. But if you save that amount through tax, then it’s all yours. \\n
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BEST MOMENTS
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‘Money down doesn’t work - but obviously it does for you!’
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‘We can’t have our cake and eat it all of the time’
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‘You flatter. Not to deceive!’
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‘You create a circular economy’
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‘It’s reinvention in a different way’
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‘You shouldn’t let the tax tail wag the dog\'
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VALUABLE RESOURCES
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Mark My Words Podcast - https://podcasts.apple.com/gb/podcast/mark-my-words-podcast/id1165370399
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ABOUT THE HOST
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Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
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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.
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He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to main stream media outlets.
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You can find Shaz on:
\\nThis show was brought to you by Progressive Media
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