Getting your strategy right so that you only pay the minimum amount of investment property tax is a key part of becoming wealthy through property.The majority of people that own property, whether it be their own home or a property they rent out will at some stage have to deal with the issue of tax; even if it is just basic things like . However, it is far better to plan your tax strategy before hand than to leave it until it is time to pay the tax bill.If you plan your strategy before and invest according to this strategy you can go along away to wiping thousands (or for some serious investors – hundreds of thousands) of pounds off your investment property tax bill. Things such as your
bill could become a thing of the pastYou can wipe this money off legally without having to resort to anything devious. The government gives people in many fields, even that of property investing, certain tax breaks.If you learn how to work with the tax breaks you can virtually eliminate your investment property tax, while still bringing in thousands of pounds of profit each year.It is ridiculous to spend hours ing for a
and then work hard to get it to complete then letting the tax man do a runner with thousands of pounds of your hard earned money.It would be one thing if this was the way it had to be but the fact that someone else might do exactly the same deal but pay hardly any tax is something that you can’t ignore.The two biggest drains on your wallet when it comes to investment property tax are usually:The tax you have to pay when you have to sell an investment propertyThe tax you have to pay on rental income If you can reduce these two things than you will be going along way to being a lot more profitable.In theory the first one can be easy to do. Just NEVER SELL your property, instead of selling; periodically remortgage instead. Currently remortgaging is tax free, so whether you pull out £1000 or £100,000 from a property after remortgaging, you won’t pay a single penny in tax.When it comes to rental income, these days many investors don’t have any, they have a capital appreciation strategy and don’t actually make much if any rental income, instead they make hundreds of thousands of pounds a year by the increasing value of their property portfolio and then by remortgaging to take out the money tax free.You also need to make sure your claiming for things like wear and tear.To help you with planning your taxes we would urge you to get in touch with a good accountant, but not just any account, one which is used to dealing with property investors. We would even urge you to go even further and find an accountant that is an active property investor himself, theses are the sorts of accountants that understand the property business and how to get the best out of every pound you make.To help you we have teamed up with . From their site you will have access to lots of useful literature on many aspects of property investing including how to save money on your taxes.
has been featured on the BBC and in quality papers such as the Guardian and Sunday Times.Another great informational site on all things tax and property is
again this has lots of useful info and a newsletter for you to sign up to.Yet another site that you may find very useful for tax information is
it even has a property tax forum to help you with those tricky tax questions. Just be warned that not everyone who answers your questions are tax accountants and it is always best to get your important formation from a qualified person.Lastly, don’t forget to visit
as well as
for the official word on lots of things, including investment property tax and . **Nothing on this website should be confused with financial or legal advice. If you need this, or any other type of advice, please seek the help of a competent professional. In addition, because real estate laws change all the time and differ from state to state, and even city to city in the same state, everything in these pages should be considered general marketing advice and ideas. Please see link to full Disclaimer at the bottom of this page.
