DOCUMENTING ONE MAN'S JOURNEY TO BECOMING A PROPERTY MILLIONAIRE

Tax And Property

The tax implications regarding property is by far the most complicated aspect of the whole subject, in my opinion. I’m not talking about stamp duty; I’m talking about the tax benefits of starting up a property related company to reap the rewards of discounted dividend tax. I’m also talking about how much tax you have to pay when you walk away with profit- yes; profit is declared as income tax, unfortunately.

I’d like to strongly advise that I’m not a tax expert, so I wouldn’t take anything in this section as gospel. All the articles are just guidelines to help assist. For the real facts, you will need the wise words of an experienced accountant that has dealt with property related acquisitions before.

Most Recent Tax And Property Articles All Tax And Property Articles



Dec
03
2007

Capital Transaction Vs Trading transaction

Buying property seems to be the easy step when it comes to property investment, and relatively speaking, so is selling property. However, it goes without saying that you don’t want your profits eaten up by the taxman, and that’s when selling property can be a little bit complicated.
In principle, I always recommend getting a good […]

Dec 03 2007  |  Tax And Property
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Nov
26
2007

Sell A Property And Benefit From Taper Relief

27/11/2007 EDIT:
From the 6th of April 2008 Taper relief will be abolished. Chancellor Alastair Darling announced that taper relief will be abolished, and will be replaced by a flat 18% tax rate.
Following the abolition of taper relief, when any such loan notes are redeemed or otherwise disposed of after April 5, no taper relief will be available on […]

Nov 26 2007  |  Tax And Property
Comments5 Comments 
Nov
25
2007

Using A Property Company To Save On Tax

As far as I’m concerned, the biggest drawback to buy to let investors is the huge tax implications. You could potentially end up paying a massive 40% of your profits because of capital net gains. That’s a lot of lost profit (politicians may disagree- but who cares?).
There are many reliefs and deductions you can claim […]

Nov 25 2007  |  Tax And Property
Comments2 Comments 
Sep
19
2007

Tax On Selling Property

Before I begin, let me make the primary message quick and painful- YES, you may have to make tax payments when selling your own property.
Avoiding costs and expenditures when dealing with property is like trying to avoid bloodshed when going into battle with a hungry lion. Unfortunately, I imagine the pain of feeling an adult […]

Sep 19 2007  |  Tax And Property
Comments2 Comments 

  

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