PUBLICATION DATE:  JULY 2023
PAGES:  293
EDITION:  30th
ISBN:  9781911020882
STATUS:  IN STOCK

How to Save Property Tax

By Carl Bayley BSc FCA

How to Save Property Tax is widely regarded as the tax bible for property investors. Written in plain English with numerous easy to follow examples, this guide tells you absolutely everything you need to know about paying less income tax, capital gains tax and stamp duty land tax on your property investments.

We launched How to Save Property Tax in 2002 and have been updating and expanding it ever since.

The new edition has just been published (July 2023) and is completely up to date.

It's essential reading for:

• ALL property investors and landlords
• Second home owners
• Those renovating or developing property
• ALL letting agents, accountants, solicitors and professional advisors

For those selling property the guide tells you absolutely everything you need to know about capital gains tax, including numerous tried and tested tax planning techniques.

For landlords faced with rising interest costs, the guide shows you how to maximise the tax relief on your mortgage interest payments.

What Information is Contained in the Guide?

Subjects covered include:

Paying Less Income Tax

• ALL the expenses landlords can claim against their rental income.
• Additional detailed analysis of the tax relief restriction for interest costs (the wretched Section 24).
• Further, and very welcome, delays to the introduction of Making Tax Digital, and reductions in its scope.
• How to claim repairs spending that a layperson would think are improvements.
• How to maximise your claims for replacement furniture, fittings, equipment, etc.
• How to get more tax relief for bad debts.
• Expanded, clearer sections on all the administrative expenditure you can claim.
• How to claim a big home office tax deduction.
• How to deduct the cost of seminars, courses and books (like this one!).
• How to get the taxman to pay towards your travel costs including flights, hotels and restaurants.
• Motoring expenses landlords can claim.
• The tax planning benefits of using the cash basis.
• Tax planning for those involved in property development.
• Everything you need to know about the tax treatment of furnished holiday lets.
• How to amend previous tax returns if you’ve forgotten to claim expenses.

Capital Gains Tax (CGT)

• A plain English guide to how capital gains tax is calculated.
• Guidance on when property capital gains might be subject to income tax instead of CGT.
• Detailed, updated information on the benefits of transferring property to a spouse or buying in joint names.
• A new section showing how unmarried joint owners (couples, siblings, parents and children) can save thousands in tax.
• How to use your children to save thousands in capital gains tax.
• Everything you need to know about principal private residence relief and private letting relief.
• How to use the temporary periods of absence rules to make massive savings.
• How to use main residence elections to reduce or even eliminate the CGT on second homes.
• A new section on part disposals, including how one taxpayer saves over £20,000!
• How to use a trust to get extra tax-free capital growth on residential property.
• A new section no-one wants to use: how a spouse’s death can save thousands in capital gains tax.
• The benefits and pitfalls of lease premiums.
• How to reduce capital gains tax on furnished holiday lets.
• Paying capital gains tax: new 60-day reporting system explained.

Stamp Duty Land Tax , VAT & Other Taxes

• A plain English guide to all the stamp duty issues facing property investors.
• The deadline for enjoying the stamp duty cuts introduced in September 2022, now made temporary by Jeremy Hunt.
• When non-residential rates of SDLT will produce an overall saving compared with the alternative residential rates.
• Examples showing the increased benefit of multiple dwellings relief for properties purchased after September 2022.
• How to transfer property into a partnerships to save SDLT on transfers to your spouse or other relatives.
• Guidance on the devolved taxes in Scotland and Wales (including the increased 6% additional rate in Scotland).
• How landlords can secure state pension entitlement without paying significant national insurance.
• VAT planning for commercial property, conversions, renovations and listed buildings.

All in all, this guide tells you pretty much everything you need to know about tax if you are a landlord, second home owner, or own any other type of property business.

Click here to read the full contents listing and first section of the book

Free Bonus Tax Guide: How to Save Tax 2023/24

When you order this guide you will also receive a FREE e-book copy of How to Save Tax 2023/24.

This comprehensive tax guide contains over 150 pages of tax saving tips. Updated following the March 2023 Budget, it contains all the latest tax changes and is essential reading for all salary earners, business owners, landlords and retirees - anyone who wants responsible, tried and tested tax planning information.

Please click here for more information on this excellent bonus e-book.

About the Author - Carl Bayley BSc FCA

Carl began his career as a chartered accountant over 40 years ago and is now one of the country's most respected tax experts. He was Chairman of the Tax Faculty at the Institute of Chartered Accountants in England and Wales (ICAEW) from 2015 to 2018 and served as a member of the institute's governing council between 2003 and 2023. He has written almost 20 plain-English tax planning guides and has contributed to newspapers including The Times and The Telegraph, as well as TV and radio programmes such as BBC Radio 2's Jeremy Vine Show.

 

Carl enjoys his role as a tax author: "The most satisfying part is the chance to give everybody a high standard of information at a very affordable price". As he often says: "My job is to translate tax into English".

What Will I Receive?