Shaz Nawaz is an accountant who also runs several property businesses of his own. In this episode, he talks about the potential tax benefits of using the serviced accommodation model.

He covers the subjects of leveraging capital allowances, legally avoiding section 24, investment allowances, taxable losses, and sideways loss relief. As well as talking through the subject of company structure and ways the SA model can be used to help you to build a decent pension pot. Alongside several other important subjects, as well as briefly talking about furnished holiday lets.

KEY TAKEAWAYS

• Capital allowances are a powerful tool for reducing tax.
• How you structure your business makes a big difference to how much tax you pay. 
• LLPs offer big advantages, in certain circumstances.
• When capital allowances and other tax advantages have been exhausted, often, SLR can be used to reduce the tax burden.
• Pension contributions, loan backs, and SASs can all play a role in paying less tax.
• Husband and wife partnerships have the option to split the income in a more tax-efficient way.
• Under certain circumstances, the TOMS or Flat Rate scheme can be used to avoid having to charge VAT.

BEST MOMENTS

‘In an LLP, the tax is payable by the partners.’

‘The more property you buy, the more capital allowances you have, the more you can claim.’

‘Serviced accommodation is treated as a trading business, for tax purposes.’

VALUABLE RESOURCES

Discovery Day Sign Up Page - https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676

The Serviced Accommodation Property Podcast - https://itunes.apple.com/gb/podcast/the-serviced-accommodation-property-podcast/id1436005279?mt=2

https://propertysoldier.co.uk/

Serviced Accommodation Success by Kevin Poneskis

Rich Dad, Poor Dad by Robert T Kiyosaki

GUEST RESOURCES

Phone: 01733555667
Email: shaz@aa-accountants.co.uk

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

Kevin was in the British Army serving 24 years, mostly in a Commando unit, and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years. 

CONTACT METHOD

https://en-gb.facebook.com/propertysoldier/
kevin@propertysoldier.co.uk