paying less tax on your property portfolio: capital allowances
Post on 13-Sep-2014
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Property investing without the tax
Reducing your income tax through Capital Allowances
Needlessly paying tax within the first three years of buying property?
Are you frustrated that HMRC no longer allows capital allowances on residential properties?
Are you….
Make more money through property
without the tax
Pay less tax on properties that you have bought and refurbished
What would you do with the money you save in tax?
It’s all about you….
Make more money through property
without the tax
Residential V business properties
Make more money through property
without the tax
Residential Business
Fixtures & Fittings WDA*
Plant & Machinery WDA*
Wear & Tear Allowance**
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*WDA Write Down Allowance (Depreciation)** Wear & Tear allowance 10% on furnished properties
Residential V business properties
Make more money through property
without the tax
Do not worry!!!
All is not lost for us propertyinvestors!!!
Available capital allowances on residential properties
Make more money through property
without the tax
1) Replacement (Like for like) & 2) Repairs
These costs may be used to reduce your income tax immediately after you have purchased the property
Warning Warning…
HMRC alert!!!
Warning Warning…
HMRC will deem costs as Capital
o Properties being improved (New kitchen has more cupboards or features than old)
o Enhancements that adds significant value to the property (New rooms)
Best Strategy for residential properties
o Claim 10% wear &tear allowance on furnished properties
o Claim refurbishment costs after purchase
o Obtain evidence that the replacement / refurbishment is not significantly adding value to the property
Contact us TODAY….
…and we will send you a FREE guide to property investing
Make more money through property
without the tax
W: www.optimiseaccountants.co.ukT: 0115 946 1991E: [email protected]