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.

The 22nd edition was published in July 2018 and is completely up to date for the current tax year.

How to Save Property Tax 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.

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 accountants, solicitors and professional advisors

After reading one of our Taxcafe guides, many readers realise they have missed out on legitimate claims which they could have made in previous years. The latest edition includes new guidance on amending prior years’ tax returns: when you can do it and the potential pitfalls arising.

What Information is Contained in the Guide?

Subjects covered include:

Paying Less Income Tax

• All tax changes announced in the November 2017 Budget and March 2018 Spring Statement.
• A detailed look at all the expenses you can claim against your rental income.
• How couples can save up to £18,880 in income tax every year.
• How to keep your income below £50,000 and protect your child benefit payments.
• A comprehensive guide to the new cash basis for landlords - this is now the default way many landlords are taxed unless they opt out.
• Details of the new ‘replacement furniture relief’ plus advice on how to maximise claims for replacement furniture, fittings, equipment, etc.
• Everything you need to know about the recent cut in tax relief on mortgage interest, including:

• Who is affected and who isn't
• Numerous worked examples showing the practical effects of the change

• How to get the taxman to pay your travel costs including:

• Flights
• Hotels
• Restaurants

• How to claim a big home office tax deduction if you work 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!)
• The latest changes to motor expenses for landlords.
• New statutory flat rate deductions for use of home and mileage rates for vehicles.
• Capital allowances for integral features: How to benefit from the £200,000 annual investment allowance when you buy commercial property or furnished holiday lets.
• The latest changes to the capital allowances regime, including a detailed review of how and when property investors can benefit from it.
• The new tax rules for UK and overseas holiday lets.
• Detailed tax guidance for those renovating or developing property.
• New guidance on which professional fees can be claimed as an income tax deduction.
• How re-mortgaging property can save you thousands in tax... plus the traps to avoid when the property market is weak.
• New dangers facing property partnerships.
• A fully updated summary for non-UK residents investing in UK property.
• Details of the new property income allowance and guidance on when it may be of practical benefit to landlords.
• Additional guidance on tax relief for losses arising in a property trade.
• The latest position on Making Tax Digital and how it will affect landlords.

Capital Gains Tax (CGT)

• A plain English guide to how CGT is calculated.
• Updated guidance on when property capital gains might be treated as trading profits and subject to income tax instead of CGT: including a detailed analysis of HMRC's guidance on the subject.
• New detailed information on the benefits and pitfalls of transferring property to a spouse or buying property in joint names.
• How transfers between spouses can save, or cost, huge amounts in CGT.
• Fully updated advice on changes to principal private residence relief, with detailed examples showing the impact of reducing the exemption from 3 years to 18 months.
• Numerous examples which show how adopting a property as your own home for a short period is still a very powerful tax planning tool despite recent changes.
• How to pay just 10% capital gains tax by claiming Entrepreneurs Relief.
• 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.

• Ways to avoid capital gains tax even if a property is not your main residence.
• How to enjoy up to 15 years of tax-free capital growth.
• How you CAN escape capital gains tax by selling one property and buying another.
• How to use your children to save £1,000s in capital gains tax.
• How to escape capital gains tax on furnished holiday lets.
• How changes to the definition of private residence affect those with overseas homes.

Stamp Duty Land Tax , VAT & Other Taxes

• A plain English guide to all the stamp duty issues facing property investors.
• Full details of the new higher stamp duty land tax charges applying to landlords with worked examples..
• Full guidance on the impact of devolved taxes in Scotland and Wales and the different types of stamp duty applying around the UK.
• The correct position regarding national insurance on property letting businesses.
• Detailed advice on the new 'mansion taxes' applying to residential property worth over £500,000 held by companies and other ‘non-natural persons’.
• How to use VAT to help increase your rent.
• VAT planning for commercial property, conversions, renovations and listed buildings.
• The new VAT ‘reverse charge’ procedure: who is likely to be affected and what are the consequences.

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

What Will I Receive?