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Found 6 results

  1. As a property investor (I'm not a landlord): For example, I found a BMV property, then apply for planning permission to convert into an HMO property depending how many bedrooms and use the bridging finance to refurb it, then use the property to rent it out to potential tenants if that makes sense. This is a buy to let. Someone mentioned that property management/ Rent2Rent is a trading business. Which of these codes are applicable? It is really confusing. SIC codes SIC code 68100 is for the buying and selling of own real estate; so, if you’re going to be flipping and trading, this would be the code for you. SIC code 68209 is for the letting and operating of own or leased real estate. In other words, for buying and holding property and renting it out. SIC code 68320 is for the management of real estate on a fee or contract basis. So, for example if you’re going to set up your own management company, then this would be the right classification for you. (As an aside, if you’re going to manage properties for other people or third parties, you should definitely do this in a separate company, and for tax efficiency purposes, you may also consider managing your own properties for yourself but through a separate company). SIC code 68310 is for real estate agencies. In other words, if you’re going to do deal packaging, i.e. if you’re going to source properties for other people.
  2. With COVID-19 cases increasing day by day our fear of earning income also increases. In such kind of confused state, everybody is bound to pay their residential property taxes. I hope this article would help you out in reduction of residential property tax: https://www.biggerpockets.com/member-blogs/12978/89996-top-3-ways-to-reduce-your-residential-property-taxes?created=1
  3. Hi, I very frequently come across this word "cost segregation", many say it is a way to reduce taxes. Can someone give me a clear picture on it.
  4. Hi posting for the first time Happy New Year, keen to find a property a tax expert any recommendations would be welcome ?
  5. Hi guys, I'm about to buy a 1 bed flat and I'd like to get your thoughts on whether its cost effective to pay a few hundred pounds for a tax advisor fees per year, for just a 1 bed flat? Does anyone do their tax return themselves and if so are there any apps/software that make the recording and submission easier? Thanks in advance
  6. Budget announcement – March 2016 What has changed? Corporation tax – Corporation tax will eventually drop to 17%, which is significantly lower than basic rate tax bracket of 20%. Tax bands: – Personal Allowance will increase to £11,500, and the higher rate threshold will rise to £45,000 in April 2017 Read about more of the changers in this article - http://www.optimiseaccountants.co.uk/budget-announcement-march-2016v2-2/#.VwN_URMrJE4
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