For those who missed it, we had an entertaining session updating the current and proposed changes to property related taxes. We counted 11 significant changes which affected everyone and then explored some of the additional likely changes that will be imposed by local councils, all of which will add to the costs of owning, operating, and passing on property. In particular we highlighted what some of the insiders are talking about in terms of the way local authorities can use (or abuse) the powers delegated to them under Article 4.
We discussed some of the major changes that might flow from the forthcoming referendum and how landlords might choose to position themselves to cope.
Following the doom and gloom part of the discussion we went on to highlight more than thirty different strategies available to UK property investors to make money from the property market. On reflection we agreed that whatever the market conditions, there would almost always be a money-making strategy that could be applied. For some, it was illuminating to discover just how many options there were available.
We wrapped up with a money saving tip for higher rate taxpayers who are renting out furnished property and wanted to know how to deal with the withdrawal of the fair wear and tear concession being calculated at 10% of the rent. Instead of accepting the change and despairing at the sharp reduction in cash flow, there was some delight at discovering that by entering into a simple sale and lease-back of their furniture the landlord could turn a money-losing inevitability into a positive cash flow story.
If you are interested in attending future workshops then please use the facility on our website to request a reservation.