PAGES: 323
EDITION: 25th
ISBN: 978-1-911020-59-2
STATUS: IN STOCK
How to Save Property Tax
How to Save Property Tax is widely regarded as the tax bible for property investors. It contains dozens of tried and tested tax saving ideas which will help you pay less income tax, capital gains tax and stamp duty land tax on your property investments.
The 25th edition has just been published (August 2020) and is completely up to date.
Written in plain English, with numerous easy to follow examples, the guide is essential reading for:
- ALL property investors and buy-to-let landlords
- Second home owners
- Those renovating or developing property
- ALL letting agents, accountants, solicitors and professional advisors
The latest edition contains lots of new tax planning information to help landlords manage their tax affairs in the current climate (see below).
- A brand new chapter on tax planning during the coronavirus crisis
- Long-term planning that can be carried out at a much reduced tax cost in the current climate (in one example, a landlord saves over £100,000 by acting now)
- A new chapter examining potential future tax changes and how to plan for them
- Why there is currently a window of opportunity to save up to £15,000 in stamp duty land tax on transfers of property to your spouse
- How to save tax by accelerating taxable profits if you expect to have a lower tax rate this year
- Detailed guidance on claiming bad debt relief, especially for rent arrears
- Tax consequences of delays in property transactions and other key events
- Fully updated guidance on the major changes to principal private residence relief and private letting relief and the planning opportunities that still remain
- A detailed look at the 50/50 default basis for splitting rental income between married couples
- The different capital gains tax consequences of transferring property to your spouse
- How property investors can use the temporary periods of absence rules for CGT main residence relief to make massive savings: in one example, an ordinary property owner saves over £40,000
- Why it may be beneficial to use the 'cash basis' in the current climate and the huge tax planning potential for those leaving the cash basis
- A new section on taxation of property businesses held by trusts
- A new section on the tax treatment of residential mobile home parks
What Other Information is Contained in the Guide?
Subjects covered include:
- All relevant tax changes announced in the March 2020 Budget and the July 2020 Summer Statement.
- A detailed look at all the expenses you can claim against your rental income.
- How couples can save up to £20,000 in income tax every year.
- The HMRC U-turn that means property investors can safely claim interest relief on more of their borrowings without fear of challenge.
- Details of replacement of domestic items relief plus advice on how to maximise claims for replacement furniture, fittings, equipment, etc.
- Everything you need to know about the changes to tax relief on mortgage interest.
- How to get the taxman to pay towards your travel costs including flights, hotels and restaurants.
- Expanded, clearer sections on all the administrative expenditure you can claim.
- How to claim a big home office tax deduction if you manage your properties from home, including mortgage interest, council tax and utilities.
- How to treat new kitchens and bathrooms as repairs instead of improvements and make the taxman pay 40% of the cost.
- How to deduct the cost of seminars, courses and books (like this one!)
- Motoring expenses landlords can claim.
- Comprehensive tax planning information for those involved in property development.
- Integral features: How to enjoy the current £1m annual investment allowance when you buy commercial property or furnished holiday lets.
- Why carefully timing spending on electrical systems, plumbing, heating and air conditioning within commercial property can make the difference between getting tax relief in one year or over more than 37 years.
- Everything you need to know about the new structures and buildings allowance.
- The tax treatment of furnished holiday lets.
- How some landlords may be able to benefit from the £1,000 property income allowance.
- After reading our Taxcafe guides many readers realise they have missed out on legitimate claims they could have made in previous years. The guide contains guidance on amending prior years’ tax returns.
- A plain English guide to how CGT is calculated.
- Full details of the new 30 day ‘report and pay’ requirements for capital gains on UK residential properties.
- Numerous tried and tested CGT planning techniques for landlords and second home owners.
- Guidance on when property capital gains might be treated as trading profits and subject to income tax instead of CGT.
- Detailed, updated information on the benefits and pitfalls of transferring property to a spouse or buying property in joint names.
- How transfers between spouses can save significant amounts of CGT.
- How to pay just 10% capital gains tax by claiming Entrepreneurs Relief (now called Business Asset Disposal Relief).
- How to use main residence elections to reduce the CGT on second homes and even on your former home.
- How to use a trust to get extra tax-free capital growth on residential property.
- Ways to avoid capital gains tax even if a property is not your main residence.
- How you CAN escape capital gains tax by selling one property and buying another.
- How to use your children to save thousands in capital gains tax.
- How to reduce capital gains tax on furnished holiday lets.
- How changes to the definition of private residence affect those with overseas homes.
- A plain English guide to all the stamp duty issues facing property investors.
- Full details of the higher stamp duty land tax charges applying to landlords with worked examples.
- The benefits of transferring property into a partnership, and how to use this to avoid SDLT on transfers to your spouse or other relatives.
- How to save SDLT by buying a house with a ‘granny flat’ or annex.
- Full guidance on the devolved taxes in Scotland and Wales.
- The correct position regarding national insurance on property letting businesses.
- How to use VAT to help increase your rent.
- VAT planning for commercial property, conversions, renovations and listed buildings.
Paying Less Income Tax
Capital Gains Tax (CGT)
Stamp Duty Land Tax , VAT & Other Taxes
Click here to read the full contents listing and first section of the book
Free Bonus Tax Guide - How to Save Tax 2021/22
When you order this guide you will also receive a FREE copy of How to Save Tax 2021/22.
This comprehensive tax guide contains 165 pages of tax saving tips. It is completely up to date with all the latest tax changes announced in the March 2021 Budget and all previous Budgets - essential reading for anyone who wants responsible, tried and tested tax planning ideas.
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 30 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 is currently a member of the Institute's governing Council. He has written over 10 plain-English tax planning guides and is a regular contributor 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 advice at a very affordable price". As he often says: "My job is to translate tax into English".
What Will I Receive?
- Printed Book Orders - 323 page professionally printed book plus FREE PDF copy (immediate download)
- eBook Orders - 323 page PDF book (immediate download)
- All Orders - A FREE copy of our bonus guide How to Save Tax (immediate download)
- 100% Money Back Guarantee - Full refund if you are not entirely happy with your purchase
- Free Postage - Printed books are posted same day. Postage to UK and EU only.
