Wealth Made Simple Podcast

If you are buying a property then SDLT is important and in this episode Shaz shares an overview and key points about stamp duty land tax and answers questions about purchasing through a limited company and shares some of the benefits of buying property in this way along with valuable information about tax and limited companies  KEY TAKEAWAYS If you are buying six or more units you can choose wheth...

Shaz shares an overview of the benefits of having a SSAS and works through live examples from members of the audienceIf you want control of your funds and the opportunity to grow a SSAS to a point where you can effectively use it then this episode has great content about the key positives of setting up a SSAS  KEY TAKEAWAYS A Small self-administered pension scheme (SSAS) is a trust  where you cont...

Shaz looks at how overseas money can be used to fund property investments in the UK and the importance of knowing the investor and having a relationship with them This episode is a great opportunity to gain an overview of joint ventures with overseas investors and how  funds can be effectively transferred   KEY TAKEAWAYS They could transfer the funds to the UK and into a UK account Most solicitors...

Shaz explains how company structure impacts tax and goes into detail about a holding company structure and how it can be used effectively He answers questions about payments to subcontractors and explains how entrepreneurs' relief works sharing great content for anyone building a business   KEY TAKEAWAYS A benefit of a holding company structure is less tax The holding company shouldn’t do anything...

Shaz shares the key points about claiming capital allowances including when you can and when you can't claimIf you are wondering where to get started on capital allowances, this episode is the one to listen toKEY TAKEAWAYS You can claim on anything fixed to the building You can claim capital allowances if the previous owner hasn’t A commercial property or standard search enquiry, completed by the...

Shaz is taking questions from his live audience about VAT. With lots of different questions all focused on VAT this is a great opportunity to hear great content about how VAT works in a range of different business situationsKEY TAKEAWAYS If you have to register there are 3 options, 20%, the flat rate scheme or a tour operators management scheme With the flat rate scheme, you pay a lower percentage...

Shaz explains how multiple dwellings relief works and can be hugely beneficial in reducing your stamp duty land tax and the huge amounts of SDLT that can be saved if a house is classified as uninhabitable He also looks at what you can claim for your business and explains how the key and only question you need to ask yourself is – Is it wholly and exclusively for the businessKEY TAKEAWAYS An annexe...

In this episode hear about the crucial questions you should be asking yourself when tax planningFrom always asking whether it’s legal to understanding that HMRC interpret the rules and can be challenged this is a must-listen with great content for any business owner KEY TAKEAWAYS Always ask ‘is it legal? at no point is it worth doing something illegal Is what you are doing effective in terms of ho...

Shaz explains the rules and restrictions of turning property purchases into serviced accommodation, focusing on the two models available - Furnished Holiday Lets (FHL) and Serviced Accommodation (SA).As he continues to tutor his live audience, Shaz explores the benefit of offering services to guests, what schemes are available to help property owners pay less tax, and how multiple properties can h...

Capital allowances can be hugely beneficial and Shaz explains how things work in both an LLP and a limited company He also shares great content on when to claim capital allowances and how with any commercial property purchase there is potentially more than one opportunity to claim   KEY TAKEAWAYS An LLP is transparent for tax purposes and the capital allowances are claimed on the income The govern...

Shaz is with a live audience looking at the tax payable when you are buying more than one propertyHe explains the best way to purchase additional properties from a tax perspective and works with live examples from the audience to share informative content on what’s the best way to buy more than one propertyKEY TAKEAWAYS A conditional contract means you can buy the land and the house is knocked dow...

In this episode, Shaz is explaining why commercial conversions are his favourite strategy and to help explain why he goes through examples, including the numbers, comparing a property flip, a buy, refurbish, refinance and renting deal along with a commercial conversionSharing the property strategy examples demonstrates clearly how the numbers work out and, as Shaz explains, shows why commercial co...

In this episode, Shaz looks at how a small self-administered scheme (SSAS) works and explains some of the ways it can be used This is a great opportunity to understand more about what a SSAS is and hear about some of the different ways and times you can pay into it and how it can be used within your business and for legacy planning   KEY TAKEAWAYS A SSAS is a small self-administered scheme and can...

Shaz works through a live example to explain what can be claimed in capital allowances each year He discusses with his audience the types of challenges that can face property investors when they are making claims for capital allowances and answers questions about claiming capital allowances at the point of purchase   KEY TAKEAWAYS There are different types of pools for capital allowance purposes T...

Shaz shares a commercial conversion example explaining the best ways to make each stage work As he goes through each phase he explains what you can claim and why as well as discussing the structure of your company and how it can support what you are doing with your commercial conversion.   KEY TAKEAWAYS With no money in and after taking her money out there is an asset worth just over 1.2million If...

Shaz looks at how the best return you can make is through investing in your own self-development and education and looks at the value of understanding the numbers in any deal Every day should be a day for learning something new and if you have an open mind learning new things every day is a possibility and will help as you scale and grow your business   KEY TAKEAWAYS You need to get the numbers ri...

There are things to pay attention to if you want to become a successful property investor, a combination of things you should be doing and those you shouldn’t be doing and Shaz goes through the ones that really make the difference in a property business from understanding it's about cash flow and capital appreciation to running your property business with the same procedures and systems that any c...

If you want to make inheritance tax work for you and your children you need to start planning from day one of your business and Shaz discusses the different ways you can do this through alphabet shares, keeping the income flowing to you but ensuring the capital will be there for your children He also answers questions about transferring properties into a limited company and explains the points at...

Shaz is with a live audience and takes us, in detail, through particular scenarios about shares. He also discusses the different classes of shares and the tax implications There are some interesting questions that investors and business owners are working through right now and Shaz shares his detailed knowledge and expertise about the best solutions   KEY TAKEAWAYS If you have two companies in a h...

In this episode, Shaz takes a look at tax for cars and the potential benefits of going all-electric He also, with his audience, goes through several live examples of capital gains tax discussing when it is payable and how it's calculated. With great informative content, this is a must listen   KEY TAKEAWAYS As a sole trader/partnership or limited partnership, you work out the miles you drive for b...

Shaz takes us through expenses and the differences between being a sole trader and a limited company when you are justifying expenses As a director of a limited company you always need to consider whether an expense is necessary in order to justify it but as a sole trader has more flexibility You may want to borrow money from your company or you may be lending money to your company listen in and h...

The question of is it a furnished holiday let or serviced accommodation is one that is frequently asked and in this episode Shaz talks in detail about the criteria and rules and answers questions from his live audience about specific scenarios and the tax implications There is invaluable advice and learning for anyone who is involved in FHL and SA  in this episode which is a must for anyone involv...

Shaz takes a deep dive into capital allowances and explains, in detail, when and what capital allowances can be claimed and how to effectively claim allowances at the right point He looks at the different rates and pools that capital allowance items are grouped into and discusses claiming Annual Investment Allowance explaining when it's best to use this. Many people don’t know enough about capital...

Shaz looks at the implications for stamp duty land tax and multiple  dwellings relief when you buy more than one property He also explains the tax implications for the property you reside in and how the occupation of a property is established This is a great opportunity to understand more about using  stamp duty land tax and multiple dwellings relief effectively   KEY TAKEAWAYS If you are buying 2...

Shaz continues to share great advice about incorporating and explains what to do around personal loans and the best way to incorporate Listen in and find out more   KEY TAKEAWAYS Under section 162 Incorporation tax relief you can move5 or more properties from your own name into the company when you incorporate If 2 or more people own the properties you can incorporate and not pay stamp duty land t...