PUBLICATION DATE:  NOV 2021
PAGES:  296
EDITION:  27th
ISBN:  9781911020721
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. 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 27th edition has just been published (November 2021) 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 ideas throughout and all the tax changes, proposals and announcements made in the October 2021 Autumn Budget.

What Information is Contained in the Guide?

Subjects covered include:

Paying Less Income Tax

• ALL the expenses landlords can claim against their rental income, revised and updated.
• An expanded section on how landlords can claim a tax deduction for repairs that a layperson would regard as improvements.
• How to maximise claims for replacement furniture, fittings, equipment, etc.
• How to get more tax relief for bad debts and how to deal with rent reductions and rent holidays.
• 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.
• An expanded section on the tax planning benefits of using the 'cash basis'.
• The recent extension of the generous £1 million limit for spending in commercial property, furnished holiday lets and certain HMOs
• ...plus a potentially dangerous pitfall for landlords and other property business owners spending money in 2023.
• Tax planning for those involved in property development, revised and updated.
• How property developers can protect their profits from the 1.25% national insurance increase coming in 2022.
• Everything you need to know about the tax treatment of furnished holiday lets.
• The latest guidance on how changes to the rules on accounting periods from 2024/25 will affect property trading businesses.
• How to amend previous tax returns if you’ve forgotten to claim expenses.
• Latest news on Making Tax Digital and what you will be expected to do once the system is in force.

Capital Gains Tax (CGT)

• A plain English guide to how CGT is calculated.
• Numerous tried and tested CGT planning techniques for landlords and second home owners.
• Guidance on when property capital gains might be subject to income tax instead of CGT.
• Detailed, updated information on the benefits and pitfalls of transferring property to a spouse or buying in joint names.
• How transfers between spouses can save significant amounts of CGT.
• Fully updated guidance on the major changes to principal private residence relief and private letting relief.
• How property investors can use the temporary periods of absence rules for CGT main residence relief to make massive savings.
• How to use main residence elections to reduce the CGT on second homes.
• How to use a trust to get extra tax-free capital growth on residential property.
• How to use your children to save thousands in capital gains tax.
• How to reduce capital gains tax on furnished holiday lets.
• The recent extension of the payment deadline for residential property, and how to get even longer to pay.

Stamp Duty Land Tax , VAT & Other Taxes

• A plain English guide to all the stamp duty issues facing property investors.
• Expanded details on when the non-residential rates of SDLT are available and can produce savngs.
• How to transfer property into a partnerships to save SDLT on transfers to your spouse or other relatives.
• Full guidance on the devolved taxes in Scotland and Wales.
• The correct position regarding national insurance on property letting businesses.
• VAT planning for commercial property, conversions, renovations and listed buildings.

All in all, this guide tells you pretty much everything you need about tax if you are a landlord 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 2022/23

When you order this guide you will also receive a FREE copy of How to Save Tax 2022/23.

This comprehensive tax guide contains 150 pages of tax saving tips. It is completely up to date with all the latest tax changes announced in the March 2022 Spring Statement 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".

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