Multiple Dwellings Relief and Expenses
Episode description
Shaz goes through the 3 key questions you must always ask yourself before you begin any tax planning
-is it legal?
-is it effective?
-is it acceptable?
He also uses real-life examples to share how SDLT works and the possible opportunities to claim and make SDLT savings when you are buying property, listen in and hear more
KEY TAKEAWAYS
- When you are tax planning there are 3 key questions; is it legal? is it effective? is it acceptable?
- Multiple dwellings relief means you can divide the price by the number of properties you are buying ad work out the SDLT on each property, you may find there is less to pay in tax
- If you are buying 2 or more properties there may be an SDLT saving
- If there are 2 or more properties with separate entrances you may be able to claim SDLT relief
- You can claim anything in your business as long as its wholly and exclusively for the purpose of your business
BEST MOMENTS
‘If you are comfortable with it do it, but if you are not don’t do it’
‘If you’re buying a property with a granny annexe you may be able to reduce SDLT’
‘There are certain expenses that have a dual purpose’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultations he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of
income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on: