Buying More Than 1 Property And Wholly & Exclusively
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 business
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Show Notes
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 business
KEY TAKEAWAYS
- An annexe with a separate entrance, kitchen and bathroom means you can claim multiple dwellings relief
- Even though the properties are on one title you can reduce your SDLT with multiple dwellings relief
- There are approximately 15 plus SDLT reliefs available
- In the first 12 months, you can change your SDLT return
- Is it wholly and exclusively for your business? if it is you can claim the cost
- For SDLT the threshold for being classified as uninhabitable is higher
- There is a huge amount to be saved on SDLT if a house is uninhabitable
BEST MOMENTS
‘Multiple Dwellings Relief can significantly reduce your SDLT
‘Buy properties in a limited company’
‘ If there isn’t a roof it’s not a house’
VALUABLE RESOURCES
[email protected]
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultations he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on: