Property Proficiency Workshop Episode 1
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Shaz shares great content from one of his Property Proficiency workshops and explains how to get started in property and on the journey to financial freedom.
\\nHe focuses on business structure and the questions you need to ask yourself to make sure you build the right structure for you.
\\nIf you want to accomplish your goals and get it right, from the start, this is the episode for you.
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KEY TAKEAWAYS
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- Property helps you obtain real financial independence \\n
- It’s important to have the right strategies if you want to succeed \\n
- Before finalising your structure you need to ask; Is it legal? Is it effective? Is it acceptable to you and HMRC? \\n
- Limited liability partnership, partnership, sole trader and limited company are all options \\n
- You need to think about liability, tax, accountancy costs, statutory regulations and bringing people in. \\n
- As a sole trader or partnership, you are responsible for the debts \\n
- Making sure you have a partnership agreement is critical \\n
- You are not personally liable for any debts in a limited liability partnership business \\n
- An LLP is transparent for tax purposes \\n
- If you have given a personal guarantee you are responsible \\n
- A limited company pays its own tax and corporation tax \\n
- Any information sent to companies house can be seen by anyone \\n
- Directors are responsible for the management of the company but the shareholders own the business \\n
- When bringing in new people you need to get the article of association right and have a shareholders agreement \\n
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BEST MOMENTS
\\n‘Growing up I was fascinated by property’
\\n‘Currently, I have property projects in the millions and teach others how to avoid the ‘mistakes I made’
\\n‘I found the right structure for building a property business’
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VALUABLE RESOURCES
\\nshaz@aaa-accountants.co.uk
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ABOUT THE HOST
\\nShaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
\\nShaz 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.
\\nHe 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.
\\nYou can find Shaz on:
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This show was brought to you by Progressive Media
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