Maximising Capital Allowances to Generate Tax-free Profits with Arthur Kemp

The Serviced Accommodation Property Podcast

In this episode, Arthur Kemp Kevin´s capital allowance expert explains what capital allowances are and how to use them to generate tax-free money. Using several examples, he explains the different ways that SA property business owners can maximise the opportunity including using sideways loss relief. Generating tens of thousands of pounds of what is basically additional profit in the process.

Arthur also touches on how to profit from land remediation relief, structure, and buildings allowance and more. As well as explaining that capital allowance arrangements can potentially be structured to benefit landlords and investors you want to work with. Something that makes it far more likely they will want to take part in more of your win-win deals.

KEY TAKEAWAYS

• According to HMRC, 96% of property transactions hadn´t maximised the capital allowances. So, there are huge opportunities for property entrepreneurs.
• Whenever you buy a property a certain percentage of it can be classified as plant and machinery which can be used to make a capital allowance claim.
• When you extend or refurbish you are usually adding more plant and machinery.
• How a property is traded is important.
• Most accountants do not have a deep enough understanding of capital allowances to maximise them.
• Arthur explains how, in certain circumstances, you can reclaim some of the PAYE tax you have paid.
• It is important to understand the difference between serviced accommodation and short term lets from the point of view of HMRC. This is explained, in the podcast.
• You can only claim capital allowances once in a building´s lifetime. Arthur explains how to buy properties on which a claim has not already been made.

BEST MOMENTS

‘What are capital allowances? - Tax-free money, ultimately.’

‘It´s really important to get the capital allowances, detailed (in the contract) and signed off at completion.’

VALUABLE RESOURCES

Discover How to Profit from the Airbnb and Bookings.com Boom

The Serviced Accommodation Property Podcast

https://propertysoldier.co.uk/

Rich Dad, Poor Dad by Robert T Kiyosaki

Serviced Accommodation Success by Kevin Poneskis

https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676

GUEST RESOURCES

Email - [e-mail]

Website - https://www.exactca.co.uk

Phone - 08454672765

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.

CONTACT METHOD

https://en-gb.facebook.com/propertysoldier/

[e-mail]