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Property Tax
Specialists
Helping high rate tax payers invest in property
Helping high rate tax payers invest in property
Louise and Simon have been property investors since
2006 and not paid any ...
Helping high rate tax payers invest in property
Free guide if you give me your business card or
your name, mobile and emai...
Helping high rate tax payers invest in property
We only focus on property investors like you since
2003… 600+ investors ac...
Helping high rate tax payers invest in property
Accountants talk
• Tax allowable expenses
• National Insurance Contributio...
Helping high rate tax payers invest in property
Helping high rate tax payers invest in property
o Employment tax
o Savings income tax
o Insurance premium tax
o Self emplo...
Helping high rate tax payers invest in property
Return on Investment (ROI)
o Do you factor tax in your ROI calculation?
Helping high rate tax payers invest in property
Jane Medical professional – High rate tax payer (2014-15)
o £100,000 to bu...
Helping high rate tax payers invest in property
Jane Medical professional – High rate tax payer (2014-15)
o £100,000 to bu...
Helping high rate tax payers invest in property
Property profits
£2,100 rent (6 ASTs X £350)
(£210) less voids
(£350) less...
Helping high rate tax payers invest in property
Who is affected by the budget announcement
o High rate tax payers
o People...
Helping high rate tax payers invest in property
Who is affected by the budget announcement
Withholding
CGT
Rent a room
All...
Helping high rate tax payers invest in property
Who is affected by the budget announcement
Helping high rate tax payers invest in property
o 3% additional stamp duty costs (additional tax)
o Anything over £40,000 ...
Helping high rate tax payers invest in property
SDLT – Resi & commercial scaled on tier basis
Values Residential
£0-£125K ...
Helping high rate tax payers invest in property
Identify chattels to reduce SDLT and tax
Helping high rate tax payers invest in property
Identify chattels to reduce SDLT and tax
o carpets (fitted or otherwise)
o...
Helping high rate tax payers invest in property
Who is affected by the budget announcement
Withholding
CGT
Rent a room
All...
Helping high rate tax payers invest in property
Property Profits
£9,780 annual profits
(£2,520) wear & tear allowance
£7,2...
Helping high rate tax payers invest in property
Property Profits
£9,780 annual profits
(£2,520) wear & tear allowance
£9,7...
Helping high rate tax payers invest in property
Property Profits
£9,780 annual profits
£5,100 add mortgage interest
£14,88...
Helping high rate tax payers invest in property
Property Profits
£14,880 Paper taxable profit
£5,952 tax @ 40%
(£1,020) 20...
Helping high rate tax payers invest in property
£25,200 rental income
Before budget announcement
£2,904 tax (11% of rental...
Helping high rate tax payers invest in property
What does RE stand for?
REPLACE
REPAIR
RENEW
Helping high rate tax payers invest in property
What does RE stand for?
Certain improvements are tax allowable:
http://www...
Helping high rate tax payers invest in property
What does RE stand for?
Not allowable
10% wear & tear on furniture
o Must be fully furnished
o Beds
o Furniture
o Curtains
o White goods
o Sofa, chairs, tables
...
Helping high rate tax payers invest in property
REPLACE
REPAIR
RENEW
RE – What does RE stand for?
Helping high rate tax payers invest in property
Budget solutions
o Buy new properties in a limited company
o Transfer exis...
Helping high rate tax payers invest in property
Now 2017 2020+
20% 19% 18%/17%
o Corporation tax rates
People with limited...
Helping high rate tax payers invest in property
£10,800 annual profits
Scenario 1: Without Limited Company
£4,320 Tax at 4...
Helping high rate tax payers invest in property
Typically:
o Mortgage rates are higher than BTL
o Arrangement fees are hig...
Helping high rate tax payers invest in property
o Stamp Duty Land & Tax
o Capital Gains Tax
o Getting a mortgage
Considera...
Helping high rate tax payers invest in property
o Ramsay v HMRC (2013)
o Transfer all properties to a LTD = no CGT
o Must ...
Helping high rate tax payers invest in property
Questions…
… but first how to engage with us
?
Helping high rate tax payers invest in property
High rate tax payers only
o Name
o Number
o Email address
Helping high rate tax payers invest in property
Tax Consultation for less than £100
http://www.optimiseaccountants.co.uk/f...
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Optimise Accountants | How will he Budget Announcement affect you?

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Who is affected by the budget announcement?

High rate tax payers
People with furnished properties
People that own limited companies
People with large asset portfolios (for example properties, shares, businesses)
People buying second homes, BTLs
People selling properties

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Optimise Accountants | How will he Budget Announcement affect you?

  1. 1. Property Tax Specialists Helping high rate tax payers invest in property
  2. 2. Helping high rate tax payers invest in property Louise and Simon have been property investors since 2006 and not paid any tax on our property portfolio.
  3. 3. Helping high rate tax payers invest in property Free guide if you give me your business card or your name, mobile and email and a piece of paper…
  4. 4. Helping high rate tax payers invest in property We only focus on property investors like you since 2003… 600+ investors across the UK
  5. 5. Helping high rate tax payers invest in property Accountants talk • Tax allowable expenses • National Insurance Contributions • Capital Gains Tax • Capital Allowances • Income Tax • Corporation Tax • Company structures • Limited Companies • Partnerships • LLPs • Sole Traders • Stamp Duty • Council Tax • Inheritance tax • International tax • Deed of trust • VAT on new build • VAT on refurbishment projects • More interesting facts • More data • Boredom • Get me out of here • I cant take anymore • Please leave me alone • I am going to get a phone and call the police • I mean it I have had enough • If you can see this then you have good eye sight • Have you had enough yet?
  6. 6. Helping high rate tax payers invest in property
  7. 7. Helping high rate tax payers invest in property o Employment tax o Savings income tax o Insurance premium tax o Self employment tax o National Insurance o Road Tax o Council Tax o Fuel, alcohol, cigarettes Duty o VAT Tax time…all the time…(life, death, taxes)
  8. 8. Helping high rate tax payers invest in property Return on Investment (ROI) o Do you factor tax in your ROI calculation?
  9. 9. Helping high rate tax payers invest in property Jane Medical professional – High rate tax payer (2014-15) o £100,000 to buy a new flat o £25,000 deposit o £3,000 profit per year o 12% ROI = £3,000 divided by £25,000
  10. 10. Helping high rate tax payers invest in property Jane Medical professional – High rate tax payer (2014-15) o £100,000 to buy a new flat o £35,000 (£25,000 deposit + £10,000 tax) o £1,800 profit per year (after tax) o 5.1% ROI = £1,800 divided by £35,000
  11. 11. Helping high rate tax payers invest in property Property profits £2,100 rent (6 ASTs X £350) (£210) less voids (£350) less Utility bills (£425) less mortgage (£300) less maintenance £815 profit per month £9,780 annual profits
  12. 12. Helping high rate tax payers invest in property Who is affected by the budget announcement o High rate tax payers o People with furnished properties o People that own limited companies o People with large asset portfolios (for example properties, shares, businesses) o People buying second homes, BTLs o People selling properties
  13. 13. Helping high rate tax payers invest in property Who is affected by the budget announcement Withholding CGT Rent a room Allowance Mortgage Interest Relief Cap Corporate Tax Increase SDLT Wear & Tear Allowance
  14. 14. Helping high rate tax payers invest in property Who is affected by the budget announcement
  15. 15. Helping high rate tax payers invest in property o 3% additional stamp duty costs (additional tax) o Anything over £40,000 (3% on total amount) o Direct from .Gov website “"A owns both a main residence and a second home. She sells her main residence and purchases a new one. Although she has two properties at the end of the day of the transaction, she has replaced her main residence so the higher rates will not apply” (sell within 36 months) Who is affected by the budget announcement
  16. 16. Helping high rate tax payers invest in property SDLT – Resi & commercial scaled on tier basis Values Residential £0-£125K 0% £125K - £250K 2% £250K - £925K 5% £925K - £1.5m 10% £1.5m+ 12% Plus surcharge > £40K 3% Values Commercial £0-£150K 0% £150K - £250K 2% £250+ 5%
  17. 17. Helping high rate tax payers invest in property Identify chattels to reduce SDLT and tax
  18. 18. Helping high rate tax payers invest in property Identify chattels to reduce SDLT and tax o carpets (fitted or otherwise) o curtains o Blinds o Free-standing furniture o kitchen white goods o Electric and gas fires (provided that they can be removed by disconnection from the power supply without causing damage to the property)light shades and fittings (unless recessed).
  19. 19. Helping high rate tax payers invest in property Who is affected by the budget announcement Withholding CGT Rent a room Allowance Mortgage Interest Relief Cap Corporate Tax Increase SDLT Wear & Tear Allowance
  20. 20. Helping high rate tax payers invest in property Property Profits £9,780 annual profits (£2,520) wear & tear allowance £7,260 taxable profit (£2,904) tax @ 40% (12% of income)
  21. 21. Helping high rate tax payers invest in property Property Profits £9,780 annual profits (£2,520) wear & tear allowance £9,780 taxable profit (£3,912) tax @ 40% (16% of income)
  22. 22. Helping high rate tax payers invest in property Property Profits £9,780 annual profits £5,100 add mortgage interest £14,880 Paper taxable profit
  23. 23. Helping high rate tax payers invest in property Property Profits £14,880 Paper taxable profit £5,952 tax @ 40% (£1,020) 20% tax relief on mortgage £4,932 tax to pay 20% of income
  24. 24. Helping high rate tax payers invest in property £25,200 rental income Before budget announcement £2,904 tax (11% of rental income) £6,876 cash profit (27% of renal) After budget announcement £4,932 tax (20% of rental income) £4,848 cash profit (19% of rent)
  25. 25. Helping high rate tax payers invest in property What does RE stand for? REPLACE REPAIR RENEW
  26. 26. Helping high rate tax payers invest in property What does RE stand for? Certain improvements are tax allowable: http://www.hmrc.gov.uk/manuals/bimmanual/BIM46904.htm
  27. 27. Helping high rate tax payers invest in property What does RE stand for? Not allowable
  28. 28. 10% wear & tear on furniture o Must be fully furnished o Beds o Furniture o Curtains o White goods o Sofa, chairs, tables o Cabinets and cupboards Helping high rate tax payers invest in property
  29. 29. Helping high rate tax payers invest in property REPLACE REPAIR RENEW RE – What does RE stand for?
  30. 30. Helping high rate tax payers invest in property Budget solutions o Buy new properties in a limited company o Transfer existing properties to a limited company o Pay off mortgage (mortgage interest relief 20%) o Invest in commercial properties o Invest in your pension to increase personal allowances
  31. 31. Helping high rate tax payers invest in property Now 2017 2020+ 20% 19% 18%/17% o Corporation tax rates People with limited companies
  32. 32. Helping high rate tax payers invest in property £10,800 annual profits Scenario 1: Without Limited Company £4,320 Tax at 40% Scenario 2: Limited Company £1,836 tax at 17% Which do you prefer?
  33. 33. Helping high rate tax payers invest in property Typically: o Mortgage rates are higher than BTL o Arrangement fees are higher o Deposit are higher (30%+) o Mortgage applications take longer Considerations when buying in a limited company
  34. 34. Helping high rate tax payers invest in property o Stamp Duty Land & Tax o Capital Gains Tax o Getting a mortgage Consideration point: Transfer properties with small CGT Transferring existing properties into a Limited Co.
  35. 35. Helping high rate tax payers invest in property o Ramsay v HMRC (2013) o Transfer all properties to a LTD = no CGT o Must be working in property Incorporation relief
  36. 36. Helping high rate tax payers invest in property Questions… … but first how to engage with us ?
  37. 37. Helping high rate tax payers invest in property High rate tax payers only o Name o Number o Email address
  38. 38. Helping high rate tax payers invest in property Tax Consultation for less than £100 http://www.optimiseaccountants.co.uk/financetaxconsultation/ Code “Talk33” to get 33% off your consultation

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