Property Expert Reveals Tax Hacks for 2024

Property can be an amazing way to invest your money. It can give you financial freedom, passive income and set you up for life.
Or it can be an administrative nightmare that sucks all your energy, your time and actually costs you money.
And one of the key differences between these 2 scenarios is understanding 1 thing very well: tax.
So today I am going to talk you through 6 tricks that can help you dramatically reduce your tax bill in 2024 and make sure your deals are as profitable as possible!
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We’d love to hear what you think in the comments below. You might even have a topic you’d like us to cover in the future - if so, comment it below.
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[@jonshepherd5]

Interesting video Rob. Arent you forgetting one of the most tax efficient strategies of all though? Correct me if im wrong here. But, if your buying the property through a limited company, then the money that you used to buy the property is classed as a directors loan. Therefore any profits from the company can be paid back to yourself as a directors loan repayment - completely tax free.

[@Gilly-gx8rt]

@johnshepherd5 is this correct? Profits paid back tax free? My accountant doesn’t think so …

[@joshfgfg]

@@Gilly-gx8rtit’s not profit. It’s the loan you made the company you take back. It’s already been taxed before you loaned it to the company.

[@jonshepherd5]

@@Gilly-gx8rt ​yes thats right, profits incur corporation tax. But from these profits you can pay yourself completely tax free as a directors loan repayment. I would always do this before paying yourself a salary or dividends for example, which will be taxed.

[@Gilly-gx8rt]

@@jonshepherd5 sorry do you mean simply repaying part of the loan? Thanks

[@jonshepherd5]

@@Gilly-gx8rt yes, directors loan repayments are tax free

[@anilneupane9743]

Another great video. Keep up the good work Rob.

[@johnsmithda4th]

Really good video mate. I would love to know your opinion or anybody else's reading this on what the most tax and cost efficient way is to move a buy to let property from my personal name to a LTD company. From my understanding I would have to sell the property to my company at market value which will incur legal costs, stamp duty for the LTD buying it and even personal capital gains tax if the value has increased for the property. Once you add all that up it just doesn't seem worthwhile. That would easily add up to almost £15-£20K. Not to mention the mortgage product fees are much higher for LTDS.

[@AhmedKhan-hs5th]

Very informative, thanks.

[@schumanhuman]

Time we switched to a simple non distortive land value tax so landlords don't have to fiddle the system to minimize bills, improvements should never be taxable.

[@PropertyHubUK]

Henry George nailed it

[@petrock9]

Do you need yo fill out any additional forms if you have an amy?

[@thomasr8130]

Someone’s been in the sun 😊 Great video. Thank you!

[@PropertyHubUK]

It’s with the proceeds of those tax savings 😉

[@jimbojimbo6873]

Ah Amy, the woman that I’ll never have 😭

[@numerouno2532]

So, let me get this straight. We buy a property, choosing to buy in a ltd company and bearing the extra costs and hassle that come with that (including the often over-looked massively higher mortgage costs, maybe SDLT etc), and we then pay the money into a pension, which we could have done anyway without a company. lol I do appreciate the videos, ignore me. I know you're giving free information, and it is generally helpful :)

[@sadiebrookes1092]

Can you transfer property you own to a company to reduce personal tax?

[@Kitty-lj7eg]

Great Video!! I am so confused of what I can claim back VAT or not for rental property...

[@MrDiegoAgostini]

I share the same doubt too

[@CMVB92]

Rental of residential property isn't vatable... Holiday rental is.

[@harsingh6451]

A really useful video, thanks for sharing. In going to speak to an accountant but wondered, is there a way to keep the BTL profit in the company to purchase a new property and defer tax for a year or two? Thanks.

[@hbmustangs]

buy a new electric car 100% write off

[@marcus.H]

@@hbmustangs 🤔 there was actually a catch you do have to pay the tax bill upon sale

[@hbmustangs]

@@marcus.H he asked ‘to defer it for a year or two’ exactly what the hundred percent first year allowance does

[@sm4185]

Hi Guys, why don't you show an example of a 2024 good rental investment case, with cash flow figures and all. Thank you 🙂

[@EllisAidan]

So if buying with a partner but not a spouse how do you prove they have a 99% split of the profit if you jointly own in and have a joint bank account?

[@numerouno2532]

You'd need a deed of Trust, but be careful of SDLT and CGT implications by changing the beneficial ownership

[@hbmustangs]

what's the point of the pension? if your in your 20's its useless

[@sachsuccess]

You can use it as a safety net for your old age, and use it to reduce your taxable income today

[@hbmustangs]

who knows what will happen in 40 years @@sachsuccess

[@williambramble05]

I used to think exactly the same thing as you but at age 32 it finally clicked for me. Your pension is a tax efficient way of investing. You will be taxed on the money that you don't put into your pension.

[@numerouno2532]

@@williambramble05 Yes we all know that, but we want to enjoy the now because whilst trying to avoid being "morbid" we don't know if we'll be here in however many years. Bear in mind you can access a private pension from 57 though which some people may not relaise.

[@ewapbm6971]

..king of stating the obvious.....

[@mariamejawara]

For you, but not for me. You might not be the audience he was targeting.