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Essential Tips to Avoid Property Taxes Audiobook

Essential Tips to Avoid Property Taxes: Helping You Make Sense of the Tax Changes to Increase Your Wealth

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Publisher's Summary

Since the July 2015 budget, the chancellor continues to throw challenges at UK buy to let investors. Clause 24, restricting the availability of interest tax relief, the abolition of the 10 percent wear and tear allowance, changes to stamp duty, and dividends are causing significant tremors in the buy to let sector.

This book builds on Iain's best seller Legally Avoid Property Taxes, which includes 51 tax tips that you should be aware of to legally avoid tax - whether you do your own self-assessment returns or pass everything over to your accountant, he wants to make absolutely sure that you've not left any money on the HMRC table.

This book is a review of the significant changes that have been brought about by the 2015 budget, how you can make sense of these changes, and what you can do to lessen the impact of direct taxation on your property portfolio.

The 2015 budget, and in particular Clause 24 and the tax treatment of loan interest removing tax relief at the highest rates of tax, has made tax changes that will impact you wherever you are on your property journey, and Iain wants to make sure that you don't just stumble across them. Armed with the correct knowledge, these changes can be dealt with.

How you handle a property investor deal with these significant changes, as with anything, in life will determine your success in property. For some there will be massive short-term pain that may require a complete review of why they invest in property, but through that pain will come clarity and long-term gain. Some part-time landlords may now choose to exit the market, and this will help with that decision; for others a bit of tweaking will be all that is required, and for those with large property portfolios potentially some more fundamental changes.

©2016 Iain Wallis (P)2016 Iain Wallis

What Members Say

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  •  
    Kenny Marshall Glasgow 13/10/2016
    Kenny Marshall Glasgow 13/10/2016 Member Since 2016
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    "Excellent summary for Clause 24 actions"

    This is an excellent summary for private Landlords wanting to reduce their tax levels and proactively deal with Clause 24. Plenty of hints, tips and ideas. Some great personal humour breaks up the dry tax subject. I would highly recommend this book.

    1 of 1 people found this review helpful
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    sam 15/08/2016
    sam 15/08/2016
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    "Tax"

    Not the most thrilling read but good considering what it was talking about. I don't think reading this will set your world on fire but it may well save you a lot of money!

    1 of 1 people found this review helpful
  •  
    Paddymonster 13/06/2016
    Paddymonster 13/06/2016 Member Since 2014
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    "If you have even one buy to let property get this."

    The major future problem for buy to let investors is the reduction of interest tax relief to a maximum of 20% by 2020. So what? Well the (complicated) way it is calculated means that it affects so many other aspects of taxation and allowances that you may be paying marginal tax rates of over 100%. Worse still you might have a tax bill on a loss. If you do nothing, expect nightmares! If you do one thing -BUY THIS BOOK.

    1 of 1 people found this review helpful
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    Amazon Customer 19/11/2017 Member Since 2017
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    "Excellent book "

    This is my second book of Iain Wallis. Really helpful in understanding recent tax changes in application to real life of of ever changing tax requirements. Thank you for your expertise and advise as cited on real life scenarios.

    0 of 0 people found this review helpful
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    Amazon Customer 04/10/2017
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    "Interesting and informative "

    Interesting and informative but need to listen to it again to fully understand. Thank you.

    0 of 0 people found this review helpful
  •  
    etylra 29/09/2017
    etylra 29/09/2017 Member Since 2016
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    "I think this book has changed my life! "

    Simply an amazing audio book that is super easy to understand (via well explained examples) and a real eye opener as to how straight forward it can be to legally minimise your tax bill. Knowledge is power and I feel that I have the information, and now confidence, to start to build a more tax efficient property portfolio. Thank you Iain!

    0 of 0 people found this review helpful
  •  
    Max 07/09/2017
    Max 07/09/2017
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    "Great listen"
    Any additional comments?

    It was a great listen from start to finish.

    Not too sure however what I have learnt that wasn't already known.

    0 of 0 people found this review helpful
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    Paul 07/09/2017
    Paul 07/09/2017 Member Since 2017
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    "Total wake up call and Crucial! I must plan now!"
    What made the experience of listening to Essential Tips to Avoid Property Taxes the most enjoyable?

    The humour was brilliant, at ease, personable, plus clarity and the delivery made it actually fun be concerned with the complex tax implications as one listens and get aware/a touch worried, and the clarity that you need a property specialist accountant, not just any or to be more precise an accountant that has properties and do rentals themselves, so will they are invested in finding out what needs doing to keep most of their wealth and not put too much on the tax man's table by simply just being ignorant on tax updates and major changes happening now, not later...It is a major change which can bankrupt one if not handled fast as pretty much half of my rental revenue is swallowed up by interest only mortgages... as I am sure this applies to most people renting properties presently. Iain Wallis book is a must read... it kicked me into the reality and action now period...!


    What was one of the most memorable moments of Essential Tips to Avoid Property Taxes?

    Several....Letting relief of £40,000 if you have lived at the property. And double at £80000 for civil partners or married couples if the property is bought in joint names...Making use of the EIS scheme to defer CGT and reinvest...


    Have you listened to any of James Young’s other performances? How does this one compare?

    No, not yet...


    Was there a moment in the book that particularly moved you?

    Yes that tax Avoidance is perfectly legal....like avoiding suppliers higher bills to find alternatives legal ways to not pay more than you must especially if you already have high costs due to older period property portfolios that have better capital growth, but higher maintenance & running costs... be totally ok paying tax not just towards bankruptcy on the new tax laws not being able to take off your highest monthly cost(interest only mortgage) yet rental corporate companies or holiday lets or air Bnb lets can take it off as expenditure on going which is the correct accounting treatment as a going concern...as one is running rental properties exactly like a business does!

    It totally sucks and it is ruthless if honest, for us providing homes for people at low cost as they can't afford to buy or rent higher priced flats etc... and not enough housing despite government schemes, shared ownership not working so well, as the new checks makes it harder to get them... so not sure why the chancellors things we add no added value to the property market or we are scum... it is so prejudice, bloody rude and unfair! Or perhaps it seems the government want to be the new largest landlord with it's many several schemes which seems to favour the "super developers" now buying up smaller business rental business property portfolios directly because of the new tax rules and writing letters to that effect presently to acquire more, this is so unfair on so many levels especially after Brexit promises too help small businesses my ass!

    So not sure what the chancellor is talking about in relation to releasing properties for residential household as it does not apply nor correlate at all, plus I or most smaller property developers/rental businesses mostly buy properties that need major works ( unlike residential buyers) to then turn it into reasonable priced rentals better than my competitors as I buy low, flipping is now pretty much out of the question because of the new tax rules, unless reinvested asap Again there is no real need for that as there are still not enough properties or lower rental properties for the majority that cannot simply afford flats etc... especially in London where I run my rental properties as a business with another individual to assist(my one man agent when needed or over loaded).


    Any additional comments?

    Brilliant and nicely written... thank you Iain.

    0 of 0 people found this review helpful
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    R S BURFORD 30/08/2017
    R S BURFORD 30/08/2017 Member Since 2017
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    "The definitive guide to property taxes in the UK"

    This book covers all the intricacies of property taxes in the UK. Everything is covered including the latest changes to the tax laws around mortgage interest relief and 3% stamp duty i.e. S24. required reading for any UK property investors

    0 of 0 people found this review helpful
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    Amazon Customer 21/08/2017 Member Since 2017
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    "Just what the doctor ordered!"

    I was rather concerned about the transfer to limited company, largely due to not knowing the full implications. Many thanks Iain

    0 of 0 people found this review helpful

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