Tax and Commercial Conversions
Episode description
Shaz explains how tax works if you are buying property that is already part of a company and discusses the ways you can achieve the best tax outcome for yourself
He uses a worked example to go through the figures making it clear at which point in the process action is required
KEY TAKEAWAYS
- You need to think about the best company structure for commercial conversions
- The property being purchased may be part of a company
- There is no SDLT if you buy the company just Stamp Duty tax on the shares
- The company makes the gain on the property value
- If you are buying property in a company the longer someone has had it for the bigger the gain
- You need to negotiate with the current owner
- If you’re buying a residential property the numbers will be much higher
BEST MOMENTS
As soon as you complete there will be SDLT to pay
You need to be aware of this when you buy property in a company
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: