Your Tax Questions Answered
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Shaz is answering wide-ranging questions about tax and its implications in this episode packed with content.
\\nHe provides some great answers to individuals about situations that they are currently dealing with and shares possible tax solutions that will be advantageous.
\\nThe information and advice he shares ranges from inheritance tax on a property through SSAS, limited companies and why he advocates for a holding company so that risk can be mitigated and payments made between companies.
\\nShaz is an expert across tax and this is a great opportunity to hear about the tax solutions to a wide range of challenges being faced by people as they develop and invest in property.
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KEY TAKEAWAYS
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- If you subscribe to shares in a limited company on day 1 of the company and you keep them there for at least 3 years when you take the proceeds out you will only be subject to 10% tax, the lowest rate you can pay. \\n
- The big benefit with investors relief is the money comes directly to you. \\n
- If you are registered for VAT you can claim this back on a refurbishment for serviced accommodation. \\n
- SSAS - if you are lending money out, having a guarantee of some sort is the best thing to do but this is dependant on the person and how many other projects they have going on. \\n
- If you have an SSAS with some cash in it and you want to buy some land you can buy the land with the SSAS or do a joint venture with your company and get the SSAS to fund it or use the SSAS to fund the planning and have an agreement that themajority of the profit goes into the SSAS. \\n
- This means you shelter most of the planning gain and your SSAS does not pay tax. \\n
- If you have a group of companies you need to make sure it is either a trading group or a development group \\n
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BEST MOMENTS
\\n‘I’d always advocate having a holding company structure’
\\n‘You can shelter a big portion of planning gains in an SSAS’
\\n‘The big benefit with investors relief is the money comes directly to you’
\\n‘Proving a property is uninhabitable can be challenging as the criteria is quite demanding’
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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:
\\nThis show was brought to you by Progressive Media
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