SDLT and Limited Companies
Episode description
If you are buying a property then SDLT is important and in this episode Shaz shares an overview and key points about stamp duty land tax and answers questions about purchasing through a limited company and shares some of the benefits of buying property in this way along with valuable information about tax and limited companies
KEY TAKEAWAYS
- If you are buying six or more units you can choose whether to pay residential or non-residential rates
- You can claim multiple dwellings relief if you are buying 2 or more properties
- If you are buying property through probate there are ways to reduce SDLT
- SDLT is vast and complicated so speak to a tax specialist
- If a property is uninhabitable when you are purchasing there are ways to reduce SDLT
- Purchasing through a limited company limits your liability
- If you have property in your own name at the end of the year you will pay tax depending on the profit you have made
- With a limited company you pay 19%, and you can control how much you take out each year
BEST MOMENTS
‘Multiple dwellings relief is a very good relief that will reduce your Stamp Duty Land Tax’
‘A limited company gives you a level of control’
‘If you’re paying your children it has to be at a commercial rate’
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 consultation 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: