Wealth Made Simple Podcast

Should you add your children to your business or company as shareholders and directors? Shaz looks at the advantages and possible disadvantages of bringing your children into your business and the differences it can make to your tax. There are many aspects to consider from the age of your children to the implications with lenders and how it can help with capital gains tax. Shaz shares great information that will help any business owner with the decision around adding their children to the business. KEY TAKEAWAYS You can add children as shareholders at any age, to be a director they have to be 16 or over with limited exceptions. If you give capital assets to them it reduces your capital gains exposure. For children who are minors any income over £100 pounds will be taxable on you. There can be negatives to having children as shareholders; -Different shareholders can fragment the business and people may not be able to agree. -Certain lenders don’t like children as shareholders. -The perception can be difficult with employees who may themselves have an expectation of shares in the future. If you give children shares over a number of years it means you can limit your capital gains tax. If your children were born before 2 January 2011 you can use a child trust fund BEST MOMENTS ‘Gifting earlier will help with your capital gains tax’ ‘The child can relinquish their obligations’ ‘If you try to give something away regularly you limit your exposure to capital gains tax’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Company cars are currently a popular subject and as Shaz has recently taken delivery of his new company car he is sharing great practical advice about what you should consider if you are looking at a company car. There are many different tax aspects to company cars so understanding what is the best option for you is crucial. If you are thinking about having a company car the most important question is “What is the best option for me?’ and Shaz explains exactly what is available and the tax implications so listening to this episode is a must for any business owner. KEY TAKEAWAYS Look at CO2 emissions – the higher the emissions the higher total tax. Capital contributions made by a director – a director can make a one-off capital payment of up to £5,000. Capital allowances – if the company pays for the car you can claim capital allowances. How many miles you are likely to be driving will also help to decide whether you should use your own car or have a company car. If the company pays for fuel you will need to pay fuel benefit tax. If you have your own car you can claim 45 pence per mile for use. If you have a spouse or child you can pay for a car for them through the company which can be tax-efficient for you. If you are a sole trader or partnership and buy a car you are the company so there is no company car tax to pay. You will need to work out how much of the time the vehicle is used for business and how much for personal use. An electric company car is very tax-efficient with no tax payable in the first year. BEST MOMENTS ‘If you are leasing you need to be aware of the taxes around this’ ‘The more expensive the car the more you are going to pay in company car tax’ ‘Who’s paying for the fuel is important when you are deciding on a company car’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

What tax-free benefits are available to me? It’s understandable that people often ask this question and in this episode, Shaz provides a succinct and informative round-up of the tax-free benefits available to businesses. There are many areas across a business that can qualify for tax-free benefits and it’s knowing what qualifies so that you and your employees can benefit. If you know what activities are tax-free then you can make sure you are claiming everything you are entitled to and offering as much as possible to your employees. KEY TAKEAWAYS If you have employees then there are certain tax benefits you can give them including; Car parking spaces, electric cars, milage and bicycles. Providing a staff canteen is tax-free and includes the hot drinks. Medical assessments, eye tests and check-ups once a year are tax-free. If someone has been away from work for more than 28 days and medical treatment is recommended to facilitate return then the first £500 an employer pays is tax-free. If you have a long-serving employee of over 20 years you can award a long service award of £50 per year tax-free but it can’t be cash and they can’t have received an award in the past ten years. If an employee is relocating the first £8,000 of costs is tax-free. You can sell goods to your employee tax-free as long as you sell it for more than you paid for it. As a company director, you are an employee of the company and entitled to the tax-free benefits. BEST MOMENTS ‘The tax-free £150 is often known as the staff Christmas party’ ‘Welfare counselling is a tax-free benefit for your employees’ ‘The cycle to work scheme means you can pay for a bike tax-free as long as the bike is used for qualifying journeys’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Shaz is explaining the benefits of having a SSAS pension and uses some great business examples in this episode. He goes through each example in detail, explaining how a SSAS impacts positively on the different steps. A SSAS has huge tax-saving potential both as a tax-saving strategy and as an investment strategy so if you haven’t considered a SSAS before, consider it now as it can lead to considerable savings and the truth is it’s just too good to ignore. KEY TAKEAWAYS SSAS is a ‘small self-administered scheme’ it is a type of defined contribution pension. An effective way to extract profit from your business is to put it into a SSAS. When you move money from your company to a SSAS you get tax relief. A SSAS helps you to; -Reduce tax payments -Move forward with effective estate planning. -Organise retirement planning to ensure income in the future. -Protect your assets, any property bought in a SSAS is in a separate entity so it is ring-fenced against your business. -There is huge tax-saving potential in using a SSAS both as a tax-saving strategy and an investment strategy. BEST MOMENTS ‘You can make a sizable saving’ ‘The SSAS isn’t going to pay any tax on the income’ ‘There is a gigantic saving by moving commercial property to a SSAS, reducing income tax, capital gains tax and inheritance tax’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Shaz explains how you should hold onto your money until you find the right deal, and if you don’t have any money of your own how to leverage and use someone else’s helping them to make money and helping you to grow and invest in the deals that make the difference. It’s important to understand that every decision has a consequence – positive or negative and you need to always take the time to think through things carefully so you know what could happen – the upside and the downside. Shaz shares great money tips for the property investor with something for everyone in this episode. KEY TAKEAWAYS If you have money in the bank don’t be desperate to invest it, wait until you find the right deal. Everyone is looking for the next big idea but taking small actions consistently over a period of time will bring you success. For the majority, small marginal gains are what makes the difference Being able to use other people’s money is a game-changer Use other people’s money to help them make money and it will help you to grow quicker. Manage your debt – get your numbers right and know you can effectively manage your debt. Time management is key, learn to leverage your time and make the best use of it. Every financial choice will have a consequence, either positive or negative. Think through things carefully and if you can’t live with the downside don’t do it. BEST MOMENTS ‘Live within your means and save some of your money to invest in cash appreciating assets’ ‘People may not have money but they may have other assets you can leverage’ ‘Make sure all the strategies are profitable’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

People often discuss the advantages of a limited company but in this episode, Shaz discusses some of the disadvantages and the potential impact. A limited company may be the right option for you but there are a number of disadvantages and it’s crucial that these are understood in order to ensure you choose the right strategy for you. Shaz shares great content and advice about what you need to consider and why making this episode a ‘must’ listen for anyone wondering if they should or shouldn’t form a limited company. KEY TAKEAWAYS Mortgage interest rates can be higher in a limited company than those taken in your own name. There is double taxation if the company makes a profit it pays corporation tax and if you take money out you will pay income tax (depending on your personal situation and the way it’s taken) If you have a limited company it will cost you more in compliance and accounts. Benefit in kind -if you have anything through which you personally benefit you have to pay tax on it and its expensive. If you are a limited company you have more exposure because there is information online. If privacy is important to you then a limited company may not be the right thing for you. If you as a limited company, you pay no tax in a year, then take money for yourself you will have to pay income tax on it. If you are a sole trader you can access the money and use it however you please. If you have a property in a limited company you don’t get an annual exemption. If you live in the property there is no principal residence relief. If you are looking to grow then section 24 means it would be better to do it as a limited company BEST MOMENTS ‘It will cost you more in compliance costs’ ‘The strategy is dependent on the deal, the exit plan and what you are trying to do’ ‘The rates are becoming more competitive but are higher than a rate when in your name’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

In this episode, Shaz looks at what, in reality, triggers a tax enquiry by HMRC and what you should and shouldn’t do during any tax enquiry. It’s often thought that the selection for tax enquiries is random but this is very far from the truth there are a number of reasons that play a role in the choice HMRC make for those who they decide to select for a tax enquiry. Shaz shares great content about what makes any business more likely to be selected and what you can do to cooperate but also what to be aware of when going through an enquiry. On average HMRC raise around 30 billion a year through compliance checks so it’s vital that any business implements this great advice from Shaz. KEY TAKEAWAYS Paying your taxes late will trigger an enquiry. Avoid late tax returns to avoid both penalties and a tax enquiry. If somebody tips off the HMRC, they are likely to follow up and this line of enquiry is relatively common. Sometimes mortgage lenders contact HMRC if the numbers don’t add up. A tax enquiry may be triggered if you have completed business for someone they are looking at. Having mistakes on your tax return will lead to an enquiry If a file is identified as high risk the HMRC risk assessment team will go through the file and decide whether to move onto an enquiry. You should cooperate with HMRC but choosing not to meet face to face cannot be seen as a sign of a lack of cooperation. Always ask HMRC ‘is this reasonably required’ and ask them to tell you why they need the information. You should negotiate any penalties, they can come down so never accept the first figure. BEST MOMENTS ‘Late payment will result in the system flagging you as a higher risk’ ‘Never ever lie during an enquiry, the penalties will be higher if you do’ ‘HMRC raise around 30 billion a year through compliance checks. It’s a big deal and that’s why they keep doing it’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

‘Should I incorporate my property portfolio? Shaz is frequently asked this question and in this finance Friday podcast he looks at the benefits of incorporating and creating a limited company. He provides great advice about the benefits but also shares his key take away – ‘one size doesn’t fit all’ you need to spend time looking closely at the reasons for becoming a limited company so that you can make an informed choice. KEY TAKEAWAYS People should spend time deciding whether incorporation is or isn’t for them. A limited company gives you limited liability. As you grow your business a limited company may be a better route as there is less personal risk. If you have a limited company you are only liable for corporation tax. As a limited company, you have flexibility about the amount of income you take from the business each year. It’s easier to attract investment from third parties because there is more visibility for a limited company. There is a prestige value to having a limited company for some. A key driver for most is section 24, it has an advantage but you need to look closely if this is the only reason for operating as a limited company. There can be a capital gains advantage to being a limited company. You need to consider pensions and loans to participators as part of a limited company BEST MOMENTS ‘There is no company car tax this year if you have an electric car’ ‘People should spend time deciding whether incorporation is or isn’t for them’ ‘One size does not fit all don’t assume you need to be a limited company’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Shaz shares great information about a government loan scheme available now. If you are a developer with a project due to complete in September this is something you should be looking at to see if you meet the criteria. Funding starts at £250,000 and goes up to 5 million with the Government also covering valuation and legal fees for those who qualify, what’s not to like for the property developer! KEY TAKEAWAYS If you are a property developer who is looking to complete a project before the end of September there is Government funding available now. It’s interest-free for the first 12 months and funding starts from £250,000 going up to 5 million. Loan to value is 65%. The government will also pay for your valuation and legal fees. You have to self-certify that you have been impacted by COVID. You have to apply before the end of August and the funding is limited. If you are a property developer looking to complete a project this is something you should be taking advantage of. You will need your project details – how many units, sales forecast, financials and how much funding required for exit. It is expected that you will be exiting by the end of September. You will need to complete an assets and liability form and supply your track record and a CV to demonstrate previous experience. BEST MOMENTS ‘It is significant and will help lots of small and medium-sized developers’ ‘With the government paying the valuation and fees what’s not to like’ ‘You should seriously consider this’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Shaz is with Drayton Bird, who teaches the masters of marketing about direct marketing. It’s said that what Drayton doesn’t know about direct marketing isn’t worth knowing and he shares some great advice and practical tips about marketing in this in-depth episode. It’s all about how to get people’s attention and once you have their attention how you get them interested and when they are interested convincing them you are telling them the truth and getting them to reply. Drayton explains how any business can achieve this if they understand direct marketing because ultimately human nature doesn’t change the only change is how the message is delivered. KEY TAKEAWAYS There is only one source of profit in a business - your customer, so it’s important to make your customer the focus of everything you do. You have to do everything you can to reach your potential customers. It can be a small thing that can make a difference. Look at your competitors and see if there is something small that you can do better or differently. What is happening to the messages you are sending out – this has to be tracked and analysed. You need to know about every aspect of your business, what’s working and what’s not. It’s all about asking questions all of the time to everyone. When people haven’t paid for something they see it as having no value. When they have paid for something they are then a customer. The first aim of any business is to not make a loss. Businesses fail not because they lack ideas but because they don’t measure and track. The database in any business is a core asset. Marketing is just getting people’s attention offering them something irresistible, convincing them you are telling the truth and asking them to reply. BEST MOMENTS ‘Always look at what your competitors are doing’ ‘Human nature doesn’t change it’s only the method of delivering the message’ ‘To who are you offering what ultimate benefit?’ VALUABLE RESOURCES [email protected] [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 consultation 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: Facebook LinkedIn Instagram YouTube.

Shaz is with Iain Forsythe DL who started his business in his bedroom and grew it into an organisation with a 10 million pound turnover and 120 employees. He now dedicates his time to developing and supporting entrepreneurs so that they can maximise all opportunities. Iain shares great business advice and discusses with Shaz the importance of employees and why the strength of any organisation is influenced by the calibre of its staff. He explains what you need to look for when employing and nurturing your team to ensure everyone feels valued and the outcomes are successful. KEY TAKEAWAYS There are 3 things to know in business -Where you’ve been, Where you are now, Where you are going. It’s finding out what the cash position is, what the cash position allows you to do and what a steady amount of growth will do for the business. If you have a business that is your world you need to decide what your succession plan is. How you shape and mould your business is about how you nurture it, learn on the journey and seek help from experts. Your staff are your biggest asset. The strength of any business is influenced by the calibre of the staff you have. When you work with people you need to understand them and they need to understand you. You need to find people that you want to work with and can develop. Business leaders often forget they are leaders because they are different from others. People want recognition and to be valued when they work within a business. It’s hugely important as a leader that you understand exactly what is going on in your business. People are often looking for the big thing but it can be a small change or marginal shift that makes the difference. When you are working across multiple sites KPIs and ensuring there is a shared vision that builds identity is key. BEST MOMENTS ‘So many people struggle with having clarity about where they want to be’ ‘It’s important to always have a work/life balance’ ‘If you have a business that is your world you need to decide what your succession plan is’ “Success is not a destination it’s a journey’ VALUABLE RESOURCES [email protected] Iain Forsythe DL LinkedIn 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Shaz shares invaluable tax tips and property advice as he takes us through one of his current development projects. In this particular project, a conversion from commercial to residential, there are a number of significant opportunities to claim tax relief but as Shaz discusses many people miss out because they just don’t know what they could claim. As he goes through the process from joint venturing to obtaining planning this real life example provides a great insight into understanding what to look at and when to ensure you gain the most at each stage of a development. KEY TAKEAWAYS Joint ventures are an effective way to work in property development. Property isn’t just one business every project is different and the more you involve others the more projects you can get involved in. We claimed land remediation relief at 150% of the cost. If you gift the use of the property to a charity with the approval of the council whilst planning is going through they can claim 80% business rates relief. The previous owners paid rent for 3 months storage of large and bulky equipment to enable effective disposal of it. Buying commercial property means you can make a capital allowances claim for the fixtures and fittings. If everyone is involved then everyone benefits. It is all about working with people who share the same values and mindset. You have to be patient, in any project there can be things that are out of your control. Learning to be flexible is key for the success of any project. Patience and flexibility are the keys to driving any project forward BEST MOMENTS ‘We initiated the conversation and were open and honest so we were able to come to an agreement’ ‘If you are looking to buy property make sure you speak to a capital allowances specialist’ ‘Keeping particular features is beneficial to both the building and you’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

In this episode, Shaz takes us through the whole development process from identifying your ‘gold mine’ area, through purchasing and redevelopment to the final outcome for the property. Using a live redevelopment project with a Grade 2 Listed building that he has recently completed Shaz explains exactly what he has done to move the property from viewing to having new tenants. This is a great opportunity to hear about a project and the importance of building positive relationships to ensure you get the result and outcome that you want. KEY TAKEAWAYS Decide on a gold mine area for you taking into account distance, supply, demand and property availability. A detailed appraisal will provide information about refurbishment/ redevelopment costs, interest costs and contingency costs If all the numbers stack up the question will be should be will you pay the asking price, a bit less or a lot less? Look for possible grants and always have a clear exit strategy. Tax is a major consideration when purchasing property and it’s a significant factor but not the only factor. It’s imperative you have a good contractor and it can be helpful if they have worked on similar contracts previously. Having a good project manager to keep everything on track is vital along with good funding. It’s extremely important to work closely with the planning department. Grade 2 listed can be more challenging but they can also bring more joy. BEST MOMENTS ‘I always consider would this be an area I would live in? If I would be happy living there I like to think most people would be happy living there’ ‘If you can make a property nice you can attract tenants who will look after the property’ ‘If it’s a good deal then just purchase it so you don’t lose out’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Shaz shares more great advice in this episode where the questions range from claiming Principle property relief through to land remediation. Shaz also takes us through 2 examples of his own property development projects explaining in detail both what went well and the challenges he met and overcame during the development process. If you have an accountant and advisor who are knowledgeable you are able to make all aspects of tax relief available work for you throughout a development project. The real key is to have access to the right level of expertise. KEY TAKEAWAYS If you can prove you have to move around and it’s your principal residence then you can claim PPR. On a standard residential property, you can’t claim capital allowances. If you have serviced accommodation or commercial property you can claim capital allowances. As soon as the trade becomes investment you can’t claim capital allowances. The bigger you become the more useful it is to separate the trading and the assets. A number of operators keep their assets in one company and their trading in another. The person who spends the money is the person who can claim the capital allowances If they don’t claim and sell the property then the new owner can claim If it is a capital expense then you can claim capital allowances. If a property has some sort of contamination then you can claim land remediation relief. If you gift the use of the property to a charity until it has planning permission then it’s possible for the charity to claim back the cost of the business rates. None of what we do is racy, pacey or risky it’s what you can do if you work with an accountant and advisor who knows what they are doing. BEST MOMENTS ‘Sometimes in property you just have to keep going and not give up’ ‘There will be challenges in a property development project, it’s knowing how to deal with them’ ‘It’s about working with an accountant and advisor who know what they are doing’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Shaz shares great advice and shares 4 live cases which demonstrate how people can inadvertently miss out on tax relief opportunities in this episode that focuses on tax. It’s about getting the most effective tax outcome for yourself and to do this you need to work with an expert prior to making any changes or beginning a new project. You also need to ensure that you have ongoing access to tax expertise on a day to day basis especially when you are growing a property portfolio. Every situation is different and there are always variables so it’s vital you understand the situation as it is currently and the implications moving forward if you want to get the best outcome. KEY TAKEAWAYS With tax, it’s important you enter into the arrangement or know what the steps are before you begin. If you buy a property that is uninhabitable you can make a claim for SDLT (Stamp Duty Land Relief) to make this claim its best to do this before you purchase or within the first 12 months. Talk to the expert in advance but ensure you have the expertise to hand on a day to day basis. It’s about getting the most effective tax outcome for yourself Stamp duty tax is one of the least understood and most misunderstood areas of Tax. One of the most important things for any business is to have the right structure. There are certain tax reliefs that are only available to limited companies such as land remedial relief, R and D tax credits and investors relief. Section 24 alone shouldn’t be the only reason to incorporate. If you have a larger portfolio and incorporation doesn’t work for you then having a management company maybe the way forward. You can get life insurance to cover inheritance liability. BEST MOMENTS ‘Stamp duty is complicated but there are opportunities out there’ ‘Don’t assume you will have to work out the different thresholds for SDLT there are many variables out there’ ‘Never let the tax tail wag the dog’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Shaz is answering wide-ranging questions about tax and its implications in this episode packed with content. He provides some great answers to individuals about situations that they are currently dealing with and shares possible tax solutions that will be advantageous. The information and advice he shares ranges from inheritance tax on a property through SSAS, limited companies and why he advocates for a holding company so that risk can be mitigated and payments made between companies. Shaz is an expert across tax and this is a great opportunity to hear about the tax solutions to a wide range of challenges being faced by people as they develop and invest in property. KEY TAKEAWAYS If you subscribe to shares in a limited company on day 1 of the company and you keep them there for at least 3 years when you take the proceeds out you will only be subject to 10% tax, the lowest rate you can pay. The big benefit with investors relief is the money comes directly to you. If you are registered for VAT you can claim this back on a refurbishment for serviced accommodation. SSAS - if you are lending money out, having a guarantee of some sort is the best thing to do but this is dependant on the person and how many other projects they have going on. If you have an SSAS with some cash in it and you want to buy some land you can buy the land with the SSAS or do a joint venture with your company and get the SSAS to fund it or use the SSAS to fund the planning and have an agreement that themajority of the profit goes into the SSAS. This means you shelter most of the planning gain and your SSAS does not pay tax. If you have a group of companies you need to make sure it is either a trading group or a development group BEST MOMENTS ‘I’d always advocate having a holding company structure’ ‘You can shelter a big portion of planning gains in an SSAS’ ‘The big benefit with investors relief is the money comes directly to you’ ‘Proving a property is uninhabitable can be challenging as the criteria is quite demanding’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

How much is the customer worth to you and how much are you willing to spend to get the customer? Shaz is sharing some great advice on how to prequalify your clients and use social media effectively to grow your brand and exposure. There are great opportunities out there if you know what to do and how to develop your potential clients through an effective prequalification process and developing an effective social media presence. KEY TAKEAWAYS Your pre-qualification process of a client is linked to the value of the client. The higher the value the deeper and longer the pre-qualification process and the longer the sales process. By prequalifying, you are making sure that in undertaking the prequalification process they are committed and prepared to purchase from you. You need to provide through the prequalification process enough information about yourself that they become a warmer lead. It’s important that your potential customer knows you are both using the process to see if you want to work with each other. How much is the customer worth to you and how much are you willing to spend to get the customer? A Facebook group and other media platforms enable you to build credibility and brand exposure, you can become the go-to expert in your area. The opportunities that will come from having a Facebook group are numerous from making contacts, masterminds and is a fantastic way to leverage your relationship equity with other out there. BEST MOMENTS ‘The reason you prequalify is to make sure they are the client for you’ ‘You may use it as an opportunity to share testimonials or demonstrate your product’ ‘Try to get them to be part of your ecosystem, you need to focus not on selling to them but getting them on your list’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Business structure is always based on personal circumstances but it’s vital to understand what your liability is, the tax implications, how much it will cost to run the business along with the regulations and statutory requirements applicable. There are many things to consider when incorporating and making sure you ask the right questions and understand the implications and advantages of different business structures is key. This episode is a great starting point for any property investor with Shaz sharing great advice on the questions you must ask to get the right business structure for you. KEY TAKEAWAYS The real expertise with tax is being able to apply the rules in a particular scenario. Your business structure will be based on your personal circumstances, it’s important to understand; Liability - If you are a sole trader you are personally responsible for any debt but as a limited company you are not. Taxation – what are the tax implications for you with a particular business structure? How much it is going to cost you to run the business? Ease of running the business should be considered there are fewer regulations for a sole trader than a limited company where the rules are very different. If you are considering incorporating make sure you can demonstrate you have a business. When you move your properties from your portfolio into a limited company you have an uplift in the base cost of those properties. If you are purchasing 2 or more properties from the same source you can claim multiple dwellings tax relief. Whenever you are buying properties seek the advice of a land and property tax expert. BEST MOMENTS ‘If you are in a partnership ensure you have a partnership agreement’ ‘Remember when you incorporate that your information is in the public arena’ ‘What are the statutory requirements for your business structure?’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Naz is discussing what is really important in the journey to build wealth. Understanding the impact of consistent marketing and how to accurately calculate the value of your product or service are all elements that are often neglected by business owners but along with reinvention these are and should be the foundations for any successful business. As the world moves forward Naz explains why diversifying into property can help anyone to build wealth and why ultimately it’s all about seizing the opportunities and creating multiple streams of income. KEY TAKEAWAYS Creating multiple streams of income is key to building wealth Effective marketing is the key to growing a successful business. Schedule time and consistently focus on marketing your business over a prolonged time frame. You have to earn the right to get their attention and earn the right to be their advisor and that takes time and work. People don’t pay enough attention to their pricing structure. They don’t understand the true value of the product or their service Acquiring a customer is a costly process so when you have a customer or client it’s important to cross-sell and up-sell. Customers need to know about all the products and services that are available. Reinvention is very important to make sure you can adapt and use new opportunities. Being part of a mastermind group and having a coach or mentor is what changes your mindset and provides the opportunity to view your business from a different perspective. The question of mentors is not about whether you can afford to do it, it’s about whether you can afford not to. Your coach or mentor needs to be the right fit – with the same values and possibly having taken a similar journey. Good business owners are quick to adapt and seek out new opportunities. BEST MOMENTS ‘You should always be looking at how you can solve the problems by looking at it from a different perspective’ ‘Always ask yourself ‘am I in the right business?’ ‘You should dedicate time every week for marketing’ VALUABLE RESOURCES [email protected] Entrust Property Tax website 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 consultation 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: Facebook LinkedIn Instagram YouTube.

This episode is a great opportunity to find out more about Shaz and his mission to share his message and knowledge with others. As an entrepreneur with 5 businesses, each in a different sector he knows all about the importance of multiple streams of income and how to help others increase their wealth. Every business needs to be adaptable and provide value to its customers - to not only survive but grow successfully and Shaz shares the key elements any business needs to get right and have in place to be able to do this. KEY TAKEAWAYS Every deal is different in property and there are many strategies Property is flexible you can have it as a lifestyle or a fulltime business, you can do it yourself and outsource or build your own team. To get the message out and add more value to clients and others you have to become a thought leader giving others access to your message, knowledge and information. Having multiple sources of income means you are in a better position if one of the businesses takes a downturn. You must protect your cash position, cut costs and look at how you can reinvent your business. Being able to be flexible and adapt to customer demands is vital those businesses that can’t are unlikely to survive. For property investors there are great deals out there, it’s a really good time to be getting into property. Those people who make mistakes, learn from them and move forward trying again are those who are successful. The challenge is to deal effectively with a mistake and continue to move forwards. In business, it’s vital to be prepared and have thought through any possible scenarios so you are prepared in the best way you can. BEST MOMENTS ‘The flexibility in running a property business is phenomenal’ ‘I couldn’t do the things I do without the people I have around me’ ‘I’m not good at everything but I usually know someone who I can ask who is’ ‘People can think creatively and do things differently – it’s an opportunity to review and do things differently. 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Most companies track numbers such as turnover, net profit margin and gross profit margin but in this episode, Shaz shares the numbers that you should and must be tracking if you want to increase profit and bring more equity to your business. Businesses often spend time trying to reduce the cost of marketing and generating leads but is this what you should be doing? Listen in and hear about exactly how to track the numbers that make a difference. KEY TAKEAWAYS Cost per lead – how much does it cost you to generate a lead? Look at the individual marketing strategies and identify the cost of each marketing activity. Cost per sale – how much are you spending on the client between them being a lead and becoming a customer. Transaction size and frequency - How much is someone ordering when they place an order and how many times per year do they place an order. You need to look at both the frequency and transaction size for each customer A higher cost lead could give you a customer with a higher transaction size Total customer lifetime value – compare this with the cost of the customer lead. Once you have the real value per customer you can work out your margins and know what you want to pay to get a customer. When you have refined your marketing to focus on the more valuable leads you will generate and convert more leads to valuable lifetime customers. Tracking these numbers will increase the profit and net value of your business, you are adding more equity and value to your business making it worth more. BEST MOMENTS ‘If you understand exactly the value of each customer you will be ahead of most of your competitors’ ‘A higher cost lead could give you a customer with a higher transaction size’ ‘How much are you spending to get them to be a customer?’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Money is a topic that Shaz knows quite a lot about and in this episode, he shares some great content about ‘must-dos’ for any business that wants to build wealth. If you own a business or want to start a business follow this advice and take positive steps towards building your success and your business wealth through understanding your spending, investing in yourself and setting the right goals. Anyone who is in business can take these steps and make a difference to their wealth, listen in and get started now. KEY TAKEAWAYS If you have a business you should create more than one bank account with a separate account for your tax. You should seek to have multiple streams of income. If you want to create a serious amount of wealth you need to diversify so that if one business is disrupted then the others are not Schedule time for extensive reading to underpin your personal development. Track your spending – many businesses don’t spend enough time tracking and small amounts can add up to a sizable amount Invest time in yourself – network, join groups, complete training because this is the investment that will bring the biggest return. Set goals and be clear about what you want – have clarity around goals and how you want to achieve them. Value yourself and believe in you – if you don’t value yourself others won’t either. BEST MOMENTS ‘The more you give away the more that comes to you’ ‘If you are tracking it you have control of it’ ‘Invest in marketing to know where you can get the best returns’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Shaz is looking at the onboarding process and the difference in the expectation gap between what’s promised and what’s given. Onboarding a new customer, client, patient or tenant is an important process in any business and in this episode, Shaz explains the detailed process he uses and how getting it right can build confidence, customer relationships, retention and longevity with your customers. Shaz is sharing his expertise and experience of how to get onboarding right and make your customer feel they are part of your business family, listen in and enjoy. KEY TAKEAWAYS The single most expensive and arduous task any business faces is getting more and new customers, clients and tenants. There can be an expectation gap between what they thought they were going to get and what they got – they are 2 different things when a customer signs up there should be an onboarding program and its length and depth should be determined by the lifetime longevity and value of the customer. if you make them happy and satisfy them then they will be more likely to give a strong and positive testimonial and be happy to recommend you. A good onboarding process helps you to build a strong customer relationship and this will mean retention rates increase. enables you to share relevant information provide good value and upsell because of the strong relationship in place. BEST MOMENTS ‘Haven’t, you had an experience where what you got was very different from what you were expecting?’ ‘If signing up a customer is an expensive process then its important to do everything you can to keep them’ ‘If a customer is happy they will recommend you’ 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 consultation 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: · Facebook · LinkedIn · Instagram · YouTube.

The coronavirus business interruption loan hasn’t quite worked out how the government wanted and so for smaller businesses, there is now the bounce back loan scheme. The government don’t often do things that are positive for small businesses and entrepreneurs but with the bounce back loan scheme they have delivered something that can make the difference. Naz explains exactly what the qualifying criteria are and what he thinks about the scheme in this informative episode. KEY TAKEAWAYS It is 100% guaranteed by the government so there is no risk for the bank as a lender. There is no interest to be paid in the first 12 months The loan is over 6-year period and you can borrow anything between 2,000 and 50,00 pounds. Your business must be UK based, established on or before 1 March 2020 and negatively affected by the coronavirus. It is a broad scheme and the interest rate is phenomenally low. You need to look at your own circumstances and seek advice from an appropriately qualified person before making an application. It is a self-certification process and you are responsible for repaying the loan in full, you need to understand the self-certification that you are submitting. BEST MOMENTS ‘At the moment I’m extremely impressed with it’ ‘Of my clients, not a single one has been refused’ ‘It’s an extremely quick and efficient process’ 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 consultation 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: · Facebook · LinkedIn · Instagram · YouTube.

In this episode, Shaz is answering a range of questions around tax, finance and the current support available from the government. This is a great listen and the wide range of questions that Shaz answers provide valuable information about buying land, loans between companies, deferment, the grants available to businesses during the current pandemic and why it’s vital to create your own emergency budget. Shaz truly has a wealth of expertise and knowledge, listen in for great content shared in an easily accessible way, with the questions we are all asking and the answers we need. KEY TAKEAWAYS HMRC are currently being flexible around payment plans and deferring. People are protecting cashflow and deferring but it’s vital to remember these payments will have to be made later. Create an emergency budget and be ruthless. Cut costs where you can because if you need it later you can get it later. There are many scams operating at the moment so you need to be very aware of this. For directors who are on an annual salary, there is a challenge as they would not have filed their RTI by the date currently being used as the stop point by the government. When you are working in property every deal is different so it’s important to ring-fence finance setting up a limited company for each deal is a way of achieving this. If a tenant is seeking deferment you can as the landlord request evidence of their change in circumstances. If a business has applied for a business rates account number and not yet received one they should still be able to access the small business grant. BEST MOMENTS ‘If you can get the VO to register you and you can show you were there prior to March then you can apply to the council for rates relief’ ‘The Chancellor has not been very favourable to directors’ ‘Make sure you budget for deferred payments’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

In the current climate, never has cash flow been so important and the saying ‘cash is king’ been so true and in this episode Shaz shares some great tips on how you can keep your cash at the moment and be in a great position when things start to move again. He explains the vital importance of tracking all money through your cash flow forecast and undertaking regular reviews of all aspects of your business. With many elements to any business it’s vital to closely examine every payment and service to ensure you are running your business in the most efficient way. This will mean when there are tough decisions to be made and difficult times you know exactly where your money is, putting you in a great position to move quickly when the world moves forward and the opportunities start coming. KEY TAKEAWAYS Complete a cash reconciliation every day and have a cash flow forecast. Speak to your suppliers to agree payment dates, it’s vital to keep communicating. Speak to your accountant, they will be able to advise on the grants and funds available to small businesses. Stress-test your business by considering different possible scenarios moving forward, this helps you to see exactly what things will look like and you will know exactly when the money will run out. Your cash flow forecast will help you to know when you should be furloughing your staff. If you have investors and stakeholders it’s important to keep them informed and on board with you on your current business journey. Look at what you can put on hold, only make the cuts you need to, it is possible to make so many cuts the business can’t survive. You need to preserve cash because there will be many opportunities moving forward and those who are quick to move will be able to grow their businesses quickly BEST MOMENTS Keep a tight eye on what’s going on ‘Get ready for the upside when it comes’ ‘Review your management accounts regularly’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

In this informative episode, Shaz shares some of the tax advantages of Serviced Accommodation and why having SA as part of your strategy can significantly reduce the amount of tax you pay. If you have ever wanted to understand more about Service Accommodation and the tax relief that can be applicable to this type of business then this is an episode you can’t afford to miss! This is a great overview and provides clear advice on both the tax relief that is accessible for Serviced Accommodation and the criteria that must be met, listen in and learn why the differences between ‘buy to let’ and Serviced Accommodation can be a game-changer. KEY TAKEAWAYS Section 24 mortgage interest relief does not affect a serviced accommodation business if you meet the required criteria. The property must be available for commercial letting for 210 days out of the tax year and actually let for 105 days. Rollover relief, gift relief and relief of loan to traders are all accessible if you qualify as a serviced accommodation business. These are not available to buy to let businesses which are treated as investment businesses. When you are buying a property you can claim capital allowances - when you purchase a commercial property you can claim capital allowance on the purchase and when you undertake refurbishment you can claim capital allowances. In serviced accommodation, you can use partnership rules and split the profits however you choose. If you qualify for the tour operators margin scheme (TOM) you will only pay VAT on the margin, not the gross amount. If you only have one property changing it to serviced accommodation for 2 years can mean you will be able to claim entrepreneurs relief and sell the property as a serviced accommodation business. BEST MOMENTS ‘Make sure you claim capital allowances it’s a game-changer’ ‘You will be able to significantly reduce the amount of tax you will pay’ ‘Entrepreneurs tax means you only pay 10% if you meet the required rules’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Shaz is now like the rest of us ‘staying at home’ and in this episode, he reflects on how working from home was not something he had ever contemplated before because home is where he spends time with his family. Currently, everything is different for everyone and Shaz shares how he and his team are adapting to working from home and discusses the best way to create a productive routine using the right software. KEY TAKEAWAYS We have a group huddle every morning to share what we are looking to achieve, it sets up the day so we know what to focus on. When working from home you can choose a different routine from the traditional 9 to 5. I can get started earlier in the day if I want to. I like to have a routine and structure to my day but using software like Asana and Teams help keep me organised and focused. Having a dedicated space for work can make it easier for you and I can take a walk at lunchtime which I never did before when I was in the office. There are lots of benefits from working at home but also distractions such as social media. Working from home means I have a higher expectation about keeping focused. Through ‘Teams’ people are more thoughtful and considerate about others time. Will I carry on working from home? I don’t have as much of an aversion to it now but I think in time when things are back to normal I’ll go back to the office because I’m a creature of habit but it’s a positive that I have been able to adapt and work from home. BEST MOMENTS ‘There is no commuting so you can either spend the time on your business or on yourself’ ‘My team are committing to doing more and achieving more because they are putting more effort in at home to show it can work’ ‘Working from home means I have a higher expectation of myself about keeping focused’ VALUABLE RESOURCES [email protected] GOV COVID19 Support for Business 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 consultation 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: Facebook LinkedIn Instagram YouTube.

There is lots of information out there and Shaz brings together the important key points that every business owner should know about COVID19 and Government Grants and Loans in a clear and succinct way in this informative episode. From the loans available and the qualifying criteria through to what is happening with Tax and VAT this is a must-listen for every business owner with clear information and great advice on what you can do now. KEY TAKEAWAYS Business interruption loan scheme Funded by the government this is a demand-led scheme. They will fund based on how many people need it and how many qualify for it Speak to your bank or one of the providers making loans available through this government incentive. This loan facility is available to businesses who have at least 50% of more of their income from a trading business or trading activity If you get funding for the initial 250,000 it should be unsecured, but it is at the bank’s discretion over this amount will require security Furloughing employees Kicks in from the 1st March. You can furlough employees you can no longer pay and claim 80% of their actual monthly salary. The payroll run used for the calculation will be 28 February 2020. HMRC are policing the system and expect to begin making payments at the end of May -until this point employers will need to continue paying their employees and will be reimbursed in early May If an employee has been furloughed they can’t work but they can undertake training but use a furlough agreement so everyone is clear about the arrangement in place. If you had already made people redundant you can bring them back and furlough them. Directors can furlough themselves but can then only carry out the statutory duties required. 10k grant If you qualified for small business rate relief on 11 March you will get 10k grant administered by your local authority. Most local authorities are contacting small businesses but you can be proactive and contact them yourself. BEST MOMENTS ‘The loan must be used for business purposes; it is intended to bridge the difference between loss of income and loss of turnover’ ‘If you get funding for the initial 250,000 it should be unsecured, but it is at the bank’s discretion’ ‘I’m distilling the information to make it easier for you and your business’ VALUABLE RESOURCES [email protected] GOV COVID19 Support for Business 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 consultation 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: · Facebook · LinkedIn · Instagram · YouTube.

One of the most effective strategies in property is the new-build; a project involving the purchase of land, the obtaining of planning permission for that land, and the building of a new property there. When it comes to this strategy, there are few people more experienced than Shaz. In this week’s episode, he talks you through a recent project he’s completed, including the pitfalls he wants you to avoid, and the lessons you can take away for your own projects. KEY TAKEAWAYS When you’re buying properties at auction, make sure you set your walkaway price before going in. If there’s a pre-auction asking price, your walkaway bidding price should definitely be no higher. When you have joint venture partners working with you on new build projects, it’s always advisable to keep their family or close friends out of it, as the relationship can become strained and imbalanced, and accountability becomes far more difficult. Always get three quotes for any work required, and make sure you practice complete transparency. This means the same terms and conditions, the same criteria and time-frames. If you’re teaming with a joint venture partner, it’s vital to ensure that they have the necessary time and resources to put into the project. Remember that this is a business, and it needs to be fair. Don’t be the only one doing all the work. Make sure you schedule in regular updates and/or meetings with any partners. Even a regular email between you can make sure that you stay on target. BEST MOMENTS ‘I got a bit excited on the phone…' ‘You need to be dispassionate about this!’ ‘It’s very hard to hold these people accountable’ ‘It was friendship that got in the way’ 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 consultation 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 main stream media outlets. You can find Shaz on: Facebook LinkedIn Instagram

‘We were able to achieve an extra 175,000 in our accounts - this is a game-changer’ As a successful property investor, Shaz has extensive experience and expertise. In this informative episode, he shares an example of one of his own redevelopment projects. When purchasing to redevelop from commercial to residential there are tax allowances available that are game-changers for any investor. Shaz takes us through his project explaining in detail the costs and how effective use of tax planning made it a very profitable deal. Listen in to hear how to you can use tax allowances to increase the profit on your investments. KEY TAKEAWAYS For most commercial conversions 20% profit or more is considered good If you are converting from commercial to residential completing a VAT1614D form and giving it to the vendor will mean you don’t pay VAT on the purchase price. The key benefit that people often miss out on is capital allowances When you are buying a commercial building for conversion to residential always speak to a tax specialist on capital allowances to make sure you put in the right allowances claim You can claim for items such as fire alarms, fire equipment, heating systems and air conditioning systems. If you have to clear hazards such as Japanese knotweed or asbestos you can claim land remediation relief which gives you back 150% in tax relief If tax allowances are structured correctly you can uplift the profit on a project by over a third. Tax allowances can make a huge difference to the profit margin of a deal. Because you can identify most of the tax savings upfront it enables you to pay more for a property if required because you are assured of getting it back. BEST MOMENTS ‘I’m passionate about trying to fix homelessness, we live in a developed country and nobody should be without a home, we gifted the building to the charity’ ‘If you contract out the labour and materials you will pay 5% VAT and if correctly structured there are ways to reclaim this’ ‘It’s always best to get a specialist tax advisor involved at the start’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

This week, Shaz discusses the process of incorporating your property portfolio, looking at both the benefits and drawbacks of doing so. Whether your portfolio is an existing one, or starting from scratch with a limited company, Shaz provides a helpful guide that’ll give you the knowledge to make the best decisions! KEY TAKEAWAYS Even if you only have one or two properties in your portfolio, it could be worth running them through a limited company, as opposed to running them through your name. It’ll depend on a few factors, but you should definitely investigate. When you set up a limited company, you need a shareholder and a director. Above and beyond that, you have ongoing access to the income. An additional benefit of having a limited company is that you can sell shares, which makes it more attractive to sell later on. If you can demonstrate that a partnership exists between you and your spouse, either through tax returns or the names on the mortgage, you can then look to move your properties into a limited company. Limited companies have limited liability, so if anything does go wrong, then it is the company that’s liable and not you! If you have unused losses in your partnership business, use them up before you transfer the properties into a limited company, as they’ll be lost if you don’t! BEST MOMENTS ‘You have to decide which option works best for you’ ‘How do I take that money out?’ ‘If you don’t use it, you’ll lose it’ 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 consultation 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 main stream media outlets. You can find Shaz on: Facebook LinkedIn Instagram YouTube.

The most common question Shaz is asked is ‘how do you find the time to fit everything in with 5 businesses, your work as a City councillor and as part of the board of 2 charities? Shaz shares how he is able to do all this and spend quality time with his young family in this episode about effective time management. Instead of time management, it should be really be called self-management because, in reality, we can’t manage time, we can only manage ourselves and Shaz explains the most effective ways to work smart and get more done every day with some great content that anyone can start using now. KEY TAKEAWAYS Prioritise Before you complete your day write down the 3 things you want to prioritise the following day, work on those first the following day beginning with your No1 priority tasks. You then keep adding tasks throughout the day and reassessing whether to move down the list, according to priority. Pomodoro technique For 20mins in an hour focus 100% on a very specific task, it is then possible to increase the amount you achieve substantially. Delegation Everyone puts off certain tasks but tackling the tasks or delegating them is a good way to get them done quickly and efficiently Allocating regular time slots Having time allotted for specific tasks every week using a good diary system and giving priority to keeping to these allotted times is effective for time management. This is about working smarter so you have the time to do what you want to do. BEST MOMENTS ‘If you don’t value your time and protect it others won’t either’ ‘Get disciplined and only check emails 2 or 3 times a day so you can get other things done’ ‘You must respect yourself and your own time’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

‘If you track, measure and refine over time you will generate more leads by focussing on the right channels’ Shaz is sharing the numbers that every business owner should know in this episode that provides great practical advice on how to get marketing, lead generation and conversion work effectively in your business. If you are a small business spending on marketing can be daunting and there can be a temptation to spend less. Shaz explains why you should spend more and how to utilise your ‘A’ customers to generate the most valuable leads of all, listen in and find out how to get started. KEY TAKEAWAYS Cost per lead the cost - This is how much it costs you as a business leader to identify or get a lead. Calculate how much you spend on marketing every month and divide this figure by the number of leads you have in the month. The outcome is the cost per lead. This is a starting point; the next step is to identify the number of leads from different marketing sources and work out the cost of lead by source. Track the best marketing sources for conversion and focus your marketing budget more intensively in these areas. The cost per client acquisition – This is the amount it costs you to win the client, this is the money spent on converting a lead into a new client, customer or patient. The lifetime value of a customer, client, patient - This is the most important number of all. Work out how long, on average, a client stays with you and what this is worth in revenue and then work backwards to decide how much you would pay for a lead. Generating more referrals A person who refers you has already been selling on your behalf. A referral lead has a much higher conversion rate than other leads and is likely to be of a better quality If someone recommends and provides a referral then you should recognise this with a gift or voucher – this is about appreciating what they have done for you. Focus on proactively asking your customers and clients because these are leads that most valuable. BEST MOMENTS ‘How much am I willing to pay for a customer who will generate 6,000 in income for me over 3 years?’ ‘Most current customers, if happy with service are happy to recommend their service provider but the business doesn’t ask them’ ‘An ‘A’ client is likely to refer someone who is like them’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

‘The benefits of a coach are massive and will change your business’ Shaz is sharing his own business experience of working with a coach in this engaging episode that has something for anyone in business. He explains his initial decision to not work with a coach because he didn’t think he needed to and the huge benefits he has experienced across his businesses as a result of re-evaluating the role of a coach and subsequently making a positive choice to make coaching an integral part of his businesses. This is a great listen and will inspire anyone in business to consider what a coach can do for them, listen in and find out more. KEY TAKEAWAYS For the first few years in business I avoided having a coach I thought I knew it all and didn’t need one. I couldn’t see the value of a coach A coach can transform your thinking and the way you run your business I have changed coaches to support my changing goals and aspirations as my businesses have moved forward. There are multiple and ongoing benefits from having a coach You will be able to develop your growth mindset and personal development. Expand your thinking and better manage your businesses Having an outside view on your business is vital to ensure your trajectory is productive. They see things from a different perspective and can ask. The questions that will drive your business forward The questions can help you to look at different strategies and ways you approach your business. A coach will ensure you set clear and actionable goals A coach will hold you to account and in business, this is vital because as the boss you can be the only person in the business who is accountable to no one. You can raise your commitment in connection with what you want to achieve. A coach will work through to increase success in different areas of your business resulting in an overall lift. BEST MOMENTS ‘Working with my first coach was a wonderful experience’ ‘When you are in the bottle it can be difficult to see the label’ ‘I would highly recommend working with a coach’ 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 consultation 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: Facebook LinkedIn Instagram YouTube.

Finance is a part of the business so often ignored by entrepreneurs and business owners, and yet it’s an area that can make a huge difference in terms of success and revenue. This week, Shaz shares a few financial strategies that will give a boost to any company, and a few home truths that will stop financial decay in its tracks. KEY TAKEAWAYS Pricing is the single biggest issue with the biggest impact on your bottom line. Most people look at their competition and charge less than them. Cutting prices can suggest that you’re adding less value. The other mistake made is when companies look for the median price at which to sell their services or goods. Customers don’t study price lists of companies and go for the middle ground. Competitive revenge comes about when someone leaves a company and decides to become a competitor. They do this by taking a handful of clients, but in general, they don’t destroy the company they’re trying to attack. Price is not everything. If you think your clients want “cheap”, then you need to bear two things in mind: Don’t moan about them being cheap, because you’re the one who attracted cheap clients in the first place If your clients truly want cheap, then does that extend to everything else in their lives? Is their food and clothing the cheapest it can be? Be conscious of your behaviour around spending. Instead of worrying about things to spend on, why not think about how to bring more money in, or how to make your current clients happier. Focus on earning it, first and foremost. Have multiple income streams. Make sure you have a way to mitigate any unforeseen circumstances, and allow yourself some wiggle-room if a client decides to go elsewhere, or makes a problem which could affect your cash-flow. BEST MOMENTS ’I don’t do finance. I don’t do accounts. Numbers go over my head’ ‘You’re saying to the marketplace that you’re adding less value’ ‘Price is a factor, but it’s not the factor’ ‘First earn, then spend’ ‘A sale is made when you have the money in your bank account’ 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 consultation 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 main stream media outlets. You can find Shaz on: Facebook LinkedIn Instagram YouTube.

In this edition, Shaz talks you through the concept of Key Performance Indicators (KPIs), and tells you all about the most essential ones you should be making a part of your property journey. Having conducted over 3,000 business consultations, Shaz has recognised that the best and most profitable businesses are the ones who track their performance through data, and act whenever certain points are hit. And you should, too! KEY TAKEAWAYS It’s vital to track your numbers, study them well, and take action when you’ve done well. Similarly, you should be analysing the numbers when you haven’t done well. Do you know what the key numbers are in your property business? If not, why not? And are you checking frequently? Shaz advises monthly, or quarterly at the very least. Some of the numbers that Shaz tracks are: Number of customer surveys completed Average score on surveys Number of hours your team has spent on development Number of books your team has read Number of complaints received Yield (Annual or more regular) Personal wealth Personal growth Number of weeks taken off work Number of ideas given by your team that have been implemented Create a culture of achievement, but make them realistic. If your targets are impossible to reach then the constant defeat will lead to a feeling of deflated defeat. Your income drivers when it comes to property should include things like: Rent coming in Number of properties Voids Resources consulted Properties viewed Conversion rates Offers made Bought properties Measuring KPIs can be costly in terms of time and resources if you set too many. Set appropriate markers at the outset and grow them if you need to. BEST MOMENTS ‘If you can measure it, you can manage it’ ‘Make a start somewhere. It’s an iterative process’ ’Numbers tell a story’ ‘I’m a big fan of having big, hairy audacious goals’ ’The target isn’t the ceiling’ 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 consultation 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 main stream media outlets. You can find Shaz on: Facebook LinkedIn Instagram YouTube.

It’s a very special crossover episode this week. Shaz joined entrepreneur investor, and co-founder of Progressive Property, Mark Homer, on the Mark My Words podcast, where he discussed everything from current projects and deals, tax strategies that have worked, the ways in which business can serve the community, and some of the tax misconceptions that might be needlessly costing you money. The whole conversation is presented for you today! KEY TAKEAWAYS A No-Money-Down strategy has worked for Shaz lately. He’s just begun a project involving the building of several properties in a development, without spending any of his own capital. They say “money down doesn’t work”, but Shaz and Mark are of a very different opinion. Previously, there was no tax to pay on dividends until you used up your basic rate and that’s why people used a corporate partner. That’s also why the rules were changed in 2014. Large corporates can be brought to places like Peterborough, because the students who study at the university there, are highly desirable in terms of hiring potential. This creates jobs, which in turn benefits the city. Not everything can go right all the time. Sometimes things go wrong. You can’t prepare for every failure, but you can learn from them. Shaz predicts that councils will soon own more of their own stock, and that housing associations will diminish. The profit can then go back to the councils, which means more public spending, which is a complete win. People should always look into as many tax reliefs os possible, especially hybrid reliefs. Shaz recommends that use of home office for your business can stretch to several rooms, and therefore be larger, if you are holding stock at your home. Saving money through tax is far more economical for you. If you save £138,000 through your business, then you may only end up with half that due to those savings being taxed. But if you save that amount through tax, then it’s all yours. BEST MOMENTS ‘Money down doesn’t work - but obviously it does for you!’ ‘We can’t have our cake and eat it all of the time’ ‘You flatter. Not to deceive!’ ‘You create a circular economy’ ‘It’s reinvention in a different way’ ‘You shouldn’t let the tax tail wag the dog' VALUABLE RESOURCES Mark My Words Podcast - https://podcasts.apple.com/gb/podcast/mark-my-words-podcast/id1165370399 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 consultation 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 main stream media outlets. You can find Shaz on: Facebook LinkedIn Instagram YouTube.

Welcome to Wealth Made Simple, a new podcast in which entrepreneur, award-winning accountant, tax expert and investor, Shaz Nawaz, guides you through the process of making money, keeping money, and most importantly, growing your money. Few people know more about mastering money through business, property or tax saving strategies. Throughout his career, Shaz has helped his clients make tens of millions of pounds in additional profits through the very business strategies he’ll be sharing with you In this week’s show, Shaz talks about investment pitfalls, and some top tax tips. Often people who find that they have accrued a sum of money wish to invest that money and make it work for them. But the challenge can be that in their haste, they don’t pay enough attention to what they’re investing in. Shaz has made mistakes in the past, and in this episode, he relates an experience in which a hasty investment didn’t work out. But why not? And what could he have done to make sure it had succeeded? On tax, Shaz tells you about an allowance you might not be aware of, but which is easy to claim, and which might provide you with a small windfall. KEY TAKEAWAYS On an early property venture, Shaz made the mistake of doing no due diligence on the project, which involved buying a piece of land and building the properties on it. This happened because Shaz felt over-familiar with the process due to his line of work. The development had no planning permission attached when the land was purchased. Shaz put his faith in a local advisor who had assured him it would be no problem, but when the time came, there were numerous objections. A subsequent consultant suggested that using Paragraph 79 might work. The strategy then became to build a house in an isolated area, with an exceptional design. The main lesson learned from this experience is that whenever you are doing a deal, always ensure that you do your due diligence first. Thousands of pounds could have been saved if the homework had been done thoroughly. If you earn £12,500 or under, you won’t have to pay any tax. You will pay National Insurance, but not income tax. If you have a husband, wife or civil partner, you can essentially transfer 10% of your personal allowance to them. This means that you can end up saving 20% on your tax. This only works if the higher-earning spouse is a basic-rate tax payer (20%) This is known as the Marriage Allowance, and can be backdated to the tax year of 5th April, 2015. It’s very easy to submit your claim online, and can see a small return heading your way! Personal Savings Allowance - If you are a basic rate taxpayer, the first £1000 of savings income generated is tax-free. The first £500 is tax free if you are a higher-rate taxpayer. The Starting Rate For Savings - The first £5000 of savings income is tax-free, but this changes depending on your rate of tax. If you go over your personal allowance, then every extra pound you earn eats into your starting rate for savings. BEST MOMENTS ‘I saved up a large chunk of cash, and I thought “I’ve got to make this money work harder”' ‘I should have kept that money in my bank! It was safer there!’ ‘If you have the will, you will find a way’ ‘If you have money in your account, and you’re looking to make investments, always make sure that you go in with your eyes open’ ‘Just because you have money in the bank, it doesn’t mean you have to make investments that aren’t sound, and which don't tie up' 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 consultation 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 main stream media outlets. You can find Shaz on: Facebook LinkedIn Instagram YouTube.

This week, Shaz wants to tell you all about a property deal that came about by chance, and the strategies he employed in order to take immediate advantage of it. Sometimes deals spring up from nowhere, and you need to move quickly. In this episode, Shaz gives you the invaluable advice that will allow you to do just that. KEY TAKEAWAYS Talk to as many people as you can in your particular area, and make sure you tell them about what you do. You never know when you’ll stumble onto the deal of a lifetime. Instead of approaching a bank for the money, which can be a laborious, slow-moving experience, Shaz approached an investor and secured 90% of the funds needed, investing 10% himself. If you buy a company, and you’re buying the shares, you pay 0.5% stamp duty, whereas if you’re buying the asset then you pay stamp duty based on the value of the property. When you take over a company, you are going to be responsible for any debts or outstanding overheads, so make sure you do your due diligence! Also, make sure you have warranties in place to protect you from any surprises in the future. If you buy the shares of a company, then the purchase price (base cost) will remain the same as when the property was introduced into the company. Investors Relief is similar to Entrepreneurs Relief - it means that investors only pay 10% tax on the money they draw down in terms of profits, so long as they fit the criteria. BEST MOMENTS ‘If you don’t tell people what you do, then they can’t help you’ ‘You’ve got to do your due diligence!’ ’Tighten up on that fixed fee if you have one’ ’The whole emphasis is to recycle as much cash as possible’ 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 consultation 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 main stream media outlets. You can find Shaz on: Facebook LinkedIn Instagram YouTube.

In Shaz’s experience, the one thing you should never skimp on is the cost involved in acquiring leads and converting them into customers, because it’s money well spent. Converting leads into customers is a game-changing activity that can and will change your business. In this episode, Shaz shares some of the strategies and incentives he uses to find and keep those customers! KEY TAKEAWAYS Most people don’t even know their “Cost Per Lead” number, and if they do, they’re generally always trying to reduce that cost in order to use the money for other things. But spending on acquisitions is a vital cost and should never be reduced. Businesses make a choice to take on customers, and yet they complain when the customers aren’t of a good quality. This is because they haven’t spent enough on attracting that better quality. The lifetime value of a customer is the amount of money any customer will spend as one of your customers. Once you have that number, you can more easily work out how much you’re willing to pay to acquire them. Concentrate on obtaining referrals from your existing clients: You’ll get better quality leads. Good customers will refer people like themselves. The selling will be done for you. The lead is more likely to sign up, so your conversion rate will be higher. Your cash-flow will increase as the referrals will likely sign up quicker. Incentives for your existing customer base will make them far more likely to seek out referrals on your behalf. Networking events, also, work incredibly well when tied into incentives. BEST MOMENTS ‘It really can and will transform your business’ ‘Why would you want less leads?’ ‘You want high quality leads and high quality customers’ ‘Why not spend that money on incentivising your customers?’ 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 consultation 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 main stream media outlets. You can find Shaz on: Facebook LinkedIn Instagram YouTube.

Stamp Duty Land Tax (SDLT) is one of the most complicated things in property. It's also one of the most misrepresented things in property, usually through solicitors or accountants who don’t truly know what they’re talking about. Luckily, Shaz does know what he’s talking about, and this week he’s talking to you about this complex issue in the hopes that by knowing more, you’ll be able to take better advantage of some of the opportunities that not many know of. KEY TAKEAWAYS Some accountants and solicitors don’t understand the many rules of Stamp Duty Land Tax, and therefore don’t truly understand all the rules. They can also be guilty of simplifying the process, which is also a mistake. It’s complicated, and that’s the painful truth of the matter. Multiple Dwellings Relief - People are often wrongly advised that you need to buy six or more properties in order for Multiple Dwellings Relief to apply. That isn’t true. Multiple means just that. You only need to buy two or more. If you buy six or more dwellings in a single transaction, you can use commercial rates of Stamp Duty. The nil rate, in this case, is much higher. If you have an annexe, and if it fulfils the HMRC definition of a dwelling, which is a building suitable for use as a single dwelling, you could be missing out on additional stamp duty paid. BEST MOMENTS ’Some advisors tend to simplify it, and it isn’t as simple as they make it out to be’ ‘Over £20,000. That is huge!’ ‘Do the calculation and see which one comes out best for you’ ’Stamp Duty Land Tax is a very complex area' 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 consultation 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 main stream media outlets. You can find Shaz on: Facebook LinkedIn Instagram YouTube.