Progressive Property PodcastSTOP Paying Too Much Tax In Your Property Business!
In this episode of the Progressive Property Podcast, Kevin discusses everyone’s most hated topic, Tax! There are new tax changes incoming, and here is what you need to know. Do not fear, there have always been tax changes and people have ALWAYS made money, the key is to roll with the punches and listen to Kevin’s top tips so that you can make the most of your money!
Discover how tens of thousands of ordinary brits are quietly getting rich with minimum investment!
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KEY TAKEAWAYS
- Run your investment property as serviced accommodation to avoid paying tax on your interest only mortgage!
- Turn your properties into a limited company to get access to incorporation relief. (You will still have to pay stamp duty)
- STOP PAYING TOO MUCH TAX by getting a tax advisor instead of an accountant.
- If you run a business (and property is a business) make sure you claim for all of your deductible expenses before tax!
- If you’re investing in a property to rent, look for properties with happy, paying tenants already in it. That way, you don’t have to risk finding potentially rubbish tenants yourself!
BEST MOMENTS
“There have always been tax changes from the government, and people have ALWAYS made and lost money, the key is to roll with the punches”
“Accountants are tax collectors for the government, get a Tax Advisor instead!”
VALUABLE RESOURCES
https://www.progressiveproperty.co.uk
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
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