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Specialist property website
www.propertysecrets.net
warns that property investors and homeowners alike could be overpaying
literally thousands of pounds in property tax - and they needn’t be!
Neil Lewis
from the
website and himself an experienced
property investor says: "Property
tax can take up to 40% of your investment profits
- if you allow it!
However, this doesn’t have to be so
– with knowledge and careful planning is quite possible to genuinely
make huge gains (ie. in excess of £160,000) without any Capital Gains
Tax and without paying the taxman a penny!
"It’s all about knowing the secrets
of how to (legally!) keep more of your profits in your own pocket!"
And
these secrets
are revealed in the latest edition of specialist publication
Property Tax Secrets 2005
which launches today and promises to help investors
minimise tax – legally; manage their tax affairs efficiently so that
they can spend more valuable time building their property investments;
and, cut their accountants bill!
Lewis says: "Property
Tax Secrets 2005 is an invaluable resource for investors as
well as homeowners. The are over 100 easy to grasp examples
of how the tax law is applied and how you can
minimise your tax as well as well as information on
planning strategies, inheritance tax and much
more!"
Here is a just a taster of the tips
and secrets the book explains:
·
Buy a property in partnership with
your spouse
– this enables you to reduce your Capital Gains Tax (CGT) liability by
£8,200
·
Set up a limited company
– the first £10,000 of rental income may be tax free
·
Set up as a property dealer -
if dealing you can offset capital costs against income
·
Let a room in your house
as the first £4,250 of rental income is tax free
·
Use the ‘wear and tear’ rule and
offset 10% of income against wear and tear
·
Lower your stamp duty band
- pay less for the property, but pay an extra amount for curtains,
carpets and furnishings
·
Double let to buy
- move again after 3 years to pay no CGT on your 3rd property
·
Invest with a large loan
- mortgage interest costs can be offset against income
·
Offset the costs of
property information, courses and finders fees and save up to 40%!
Suitable for beginners and experts
alike
and written in plain English,
Property Tax Secrets 2005 (which is
available as either a hard copy or in electronic format) comes with
interactive property tax software so that investors can
capture their costs and income, and calculate and forecast their tax
liabilities.
This latest
version of the book has been edited and developed by Colin Davison, an
active property investor and qualified accountant. He enthuses:
"I believe
this book, now fully up to date, offers the best possible introduction
to the murky world of property tax, with accurate and helpful advice
on how to limit your tax bills legally.
"For many readers, the book and
accompanying software will be more than sufficient to answer their
questions and alert them to intelligent ways to structure their
affairs to minimise tax. And, even if they still decide to use an
accountant, they will find that the accompanying software will do most
of the work for them and so help cut their accountancy bills".
For
more information or to buy online, visit:
www.property-tax-secrets.co.uk
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