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Level 1: Foundations
| Buy To Let Secrets | |
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| Property Tax Secrets | |
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Level 2: Expanding Your Knowledge
| Beat The Credit Crunch & Make A Fortune Through Property Auctions! | |
| Inheritance Tax Secrets | |
| Property Auction Secrets | |
| Renovation Secrets | |
| Self-Build Secrets | |
| What To Do When It All Goes Pear-Shaped! | |
Level 3: Building A Serious Portfolio
| Portfolio Property Secrets | |
| Property Management Secrets | |
| Social Buy To Let Secrets | |
| Where In The World To Invest | |
Market Performance Reports
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Property Tax Secrets
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Are you up to speed on your property portfolio tax liabilities?
Here's a fact for you:
"Britons will have paid £5.7 billion more tax than they needed to last year because of poor planning."
Escape that statistic with Property Tax Secrets, fresh from Property Secrets and updated for the 2008/09 tax year.
Reflecting all the changes announced by Alistair Darling in his first Budget, the latest edition of Property Tax Secrets is the most comprehensive, up to date guide to helping you cut your tax bill and sleep soundly at night.
So what's changed?
Darling announced several changes which could directly or indirectly affect the property investment sole trader, partnership or company. These include:
- Flat rate Capital Gains Tax announced
- New Inheritance Tax threshold - and incremental increases
- Simplification of tax systems for small businesses (like small Public Limited companies)
- Abolition of taper relief
- Introduction of Entrepreneur's Relief
- All new tax rates
How each of these changes - and more - will affect you and your property investments is clearly explained in Property Tax Secrets. The book is packed with easy to understand examples, key tips and strategies designed to save you money and cut your tax bill.
In fact, all 68 examples have been reviewed and updated to reflect the new tax rates for 2008/09.
Let's take an example - what are your liabilities if your property investment strategy is Buy To Let?
Example: Buy To Let | Mr Investor buys an investment property for £50,000. Without carrying out any development work, he rents out his property for £450 pcm. His expenses for the property are £150 pcm. Therefore, he is earning an additional £300 pcm as income, upon which he is liable to pay Income Tax. If Mr Investor then sells his property for £60,000, he will also be liable to pay CGT on £10,000. |
What do you get with Property Tax Secrets?
In addition to the comprehensive examples provided, Property Tax Secrets contains 26 key tips which, if implemented and noted, could save you hundreds of pounds on their own, a chapter containing 19 things you can do to make sure your money stays with you, not the tax man and a 10 step guide to fighting a tax investigation!
For example...did you know...
Key Tip: Tax Strategies | If you have purchased a new property that does not require any immediate work, then consider making the changes/improvements after the property has been let. This will allow you to offset the cost against any rental income. |
...or that...
Tips for paying less: Travel & Subsistence | Travel costs incurred visiting your existing properties or scouting for new ones should be allowable. If your trip necessitates an overnight stay, you will also be able to claim accommodation costs and meals. These costs will only be allowable if your trip was purely for business purposes, and any private element of the trip must be merely incidental. |
...or you should...
Tax Investigation: Deal with things promptly | It's not rocket science - simply by reacting to enquiries or any issues which arise promptly, you will gain a good reputation and standing with the tax office, which could stand you in good stead at a later date. There's no harm in it and it's never a bad thing to be known for being reliable and efficient. |
You'll learn all that and much, much more with Property Tax Secrets, including:
- Who you are - investor or dealer?
- What you are - a sole trader, a partnership or a Limited Company?
- What you do - Buy to let, buy to develop, buy to sell?
All vital to know before you develop your tax strategy. Property Tax Secretswill give you a full understanding of taxation too.
- Income Tax - how to save it!
- Capital Gains Tax - how to use your allowance effectively
- Inheritance Tax - how to reduce your liability
- Corporation Tax - how to keep it to a minimum
- Stamp Duty / Land Tax - avoid it!
- Local Taxes - what relief can you claim
In addition to understanding the various forms of taxation you could be liable for, Property Tax Secrets will also give you a deeper understanding of the Inland Revenue and what they expect from you. This includes important tax dates for your diary, which tax returns you will need to complete...and which common blunders that can land you with an investigation.
Finally, Property Tax Secrets will explain in clear, easy to follow chapters the best tax strategy for you. Whether that's as a sole trader, in a partnership, a Limited Company, REITs, Trusts or offshore planning - Property Tax Secrets has all the information you need to cut your tax bill and sleep soundly at night.
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