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By Carl Bayley BSc ACA
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Furnished holiday lettings are the property tax equivalent of winning the lottery.
Owners of furnished holiday lets often pay less income tax, capital gains tax, and inheritance tax than other property investors.
However, these special tax concessions will be abolished on 6th April 2010.
This unique guide explains exactly what you must do NOW to save literally tens of thousands of pounds in tax before the rules change.
Each tax relief is examined in turn with step-by-step tax planning guidance.
This guide is essential reading for ALL landlords who own furnished holiday lettings in the UK and European Economic Area (EEA). |
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The guide contains dozens of clear examples and tax planning ideas and is written by one of the country's leading property tax experts. Subjects covered include:
- A detailed look at ALL the income tax, capital gains tax and inheritance tax benefits of furnished holiday lettings.
- Why you may be able to continue enjoying these tax reliefs after April 2010 by making a few minor changes to your business.
- Five services you should provide to tenants to preserve your special tax status.
- Why investing in furnished holiday lettings before 6th April 2010 could generate a tax repayment of up to £20,000 (£40,000 for a couple).
- How one investor is saving £16,000 in capital gains tax by transferring property to his daughter.
- How to benefit from entrepreneurs relief and pay capital gains tax at less than 10% – without actually selling your property.
- Why you should sell old properties and buy new ones before 6th April 2010 to benefit from capital gains rollover relief.
- Why you should consider transferring your properties into a company before 6th April 2010 to save tax on future income and capital gains.
- How one investor is saving £121,920 by transferring his portfolio to a company thanks to incorporation relief.
- How to obtain a tax repayment by creating a rental loss during the current tax year.
- Why you should consider paying a salary of up to £476 per month to children over 16 (and in some cases to those aged 13-15).
- How one investor is saving £21,920 in one year alone by carefully claiming capital allowances.
- 7 ways to shelter the value of your furnished holiday lettings from inheritance tax.
- The tax benefits of converting newly acquired or existing property into furnished holiday lets before 6th April 2010.
- Making back-dated claims as far back as 2003 on foreign furnished holiday letting property.
- The future tax landscape for owners of furnished holiday lettings after 6th April 201
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The Author of Furnished Holiday Lets: Your Emergency Tax Planning Guide is Carl Bayley BSc ACA. Carl's speciality is his ability to take the complex world of taxation and set it out in the kind of clear language that taxpayers can understand. Carl is also a regular contributor to TV programmes such as the BBC's It's Your Money programme and national newspaper articles on tax matters. He is a member of the governing Council of the Institute of Chartered Accountants in England and Wales.
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- We use Worldpay's renowned secure payment server to process payments. Worldpay is part of the Royal Bank of Scotland Group.
- All customers will receive a complimentary electronic copy of our comprehensive tax guide 'How to Save Tax 2010/2011' - worth £19.95.
- You will have the option at checkout of receiving a free electronic copy to read immediately. Click here to find out more
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You can also order by telephone on 0845 111 0743 Mon-Fri 9am-5pm
(Please quote reference: Landlord-Law)
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