How To Tax Efficiently Structure A Property Flip

Рет қаралды 3,314

10 күн бұрын

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Пікірлер: 18

@joline2730 8 күн бұрын

Extremely interesting discussion. I learned that VAT is not claim-backable ‼️ Not that I've ever earned enough to register for VAT. All I have ever done is Buy, Refurb and Sell on, so I now know where I stand. 👌💯

@JustinWilkins 7 күн бұрын

👏👏

@kevinwooldridge2127 6 күн бұрын

Love these interviews with Peter, so knowledgeable and has enabled me to learn a thing or two.Thanks

@JustinWilkins 6 күн бұрын

Great to hear, thanks Kevin!

@D0MIN0E5 8 күн бұрын

Great video, it would have been interesting to hear from Peter what his thoughts on a group structure would be for holding the different Ltd companies, what the pros and cons might be

@JustinWilkins 7 күн бұрын

Yes great suggestion! I’ve found that for the most part a group structure is usually always a benefit, the main negative is that lending can be trickier / more hoops to jump through

@shararestoboats 7 күн бұрын

I had so many questions on this. I can't thank you enough for sharing!

@JustinWilkins 6 күн бұрын

Awesome to hear 🙌🏠

@Air51 8 күн бұрын

Got my 2nd flip going live for sale tomorrow and then was looking for a way to speedup flips and also was looking at buying and holding uplifted properties with more than 5% capital growth. I'd be happy chatting about using my capital to renovate at 50/50 as long as it brings in around £50k net (after tax etc unless we keep the profits in the company) per year. Who do I talk to Justin?

@nickchandra4890 7 күн бұрын

Even for a basic rate tax payer it is better to put the property in a ltd company because interest is tax deductible unlike for an individual. Please check with Peter on this.

@Deathrow2493 6 күн бұрын

We're looking to currently either Flip or rent out and then refinance a property- we're both 20% tax payers and we're also unsure of this. We were thinking the first 1 or 2 BTL properties we'd do in our personal name and then after a business but we're not 100% sure.

@nickchandra4890 5 күн бұрын

@@Deathrow2493 Get some accounting advice. Everything is tax duductible including the interest in a Ltd company. If you make losses those losses can be carried forward to setoff against future profits. If you are planning on doing this as a business do it as a Ltd company. There is another advantage if you decide to sell later on. The new buyer can buy the Ltd company from you and not the property and save stamp duty etc. He is then buying your shares in the company from you not the property itself but obviously it will go to him as the property belongs to the company. It is even better to have one limited company per property as if you want to sell a property you can just sell that Ltd company to the new buyer. This tax accountant should be discussing these issues here. I am a bit surprised.

@123sumom 7 күн бұрын

Amazing thanks

@JustinWilkins 5 күн бұрын

💪💪

@jigerkijeet 7 күн бұрын

Very informative

@JustinWilkins 6 күн бұрын

Thanks 🤝

@magicaljewels295 2 күн бұрын

Sounds like a complete dogs dinner. No point investing in the UK with those rates and having to justify to the tax man. I’ll sit home and do as most of the UK does - looks more appetising.

@JustinWilkins 2 күн бұрын

😂 as correct as you are about the UK tax system, sitting at home doing nothing is just a waste in my opinion. Why live an average life like that - I’d do anything to make sure I don’t (even if it means paying silly tax rates).