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UK property HMRC capital allowances integral features tax savings
Content – In this video you will learn
▶ You can claim capital allowances on holiday lets and serviced accommodation.
▶ A capital allowance is where a report is written to show the fixtures/fittings, wiring and plumbing within a property. These costs may be capital in nature but you can still get tax relief offset against your income through capital allowances.
▶ It is possible to claim Annual Investment Allowances (AIA) on holiday lets and serviced accommodation. If you have purchased a property and dine refurbishment works then it is possible that 100% of certain costs may be claimed in one year.
▶ It is possible to get a cheque back from HMRC if you have purchased a holiday let/serviced accommodation in your own name and claimed capital allowances.
▶ Any losses may be offset against your other taxable income if the capital allowances create a loss against the property portfolio in the fiscal year.
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If you wish to know more about property investing then please see these YouTube experts:
Arsh Ellahi: https://www.youtube.com/user/arshellahi
Assets for life (Liam Ryan and Jay Munoz): https://www.youtube.com/channel/UC2PNw6YPy0n5O4LMKeL7YFg
Bronwen Vearncombe https://www.youtube.com/channel/UCDT9L2G3anfof-JFs8CI2gg
Jim Halliburton (The HMO Daddy): https://www.youtube.com/user/JimHaliburton
Jacquie Edwards: https://www.youtube.com/channel/UCz___wf1FXKQGP8qaJn9YSA
Mike Stenhouse (podcast): https://www.youtube.com/channel/UC1ownbL3lm0KI7yrfSoltfg
Paul Preston: https://www.youtube.com/channel/UCH8oZLYkWERxZn60u3qgpyg
Samuel Leeds: https://www.youtube.com/channel/UCS6SES6btXx2tVFzWy4oToA
Tony Law: https://www.youtube.com/channel/UCQ93i22JrK78mFAJVP0DVEA
Trevor Cutmore: https://www.youtube.com/channel/UCz9trefqbyFRt1hfCgUJVzw
There are people that will also support you with your property investment journey
Jake Iles (Capital Allowances): https://www.youtube.com/channel/UCOM5nF5-iDuN5NRBZNfht4A
Kevin Wright (Finance):
Julian Maurice (refurbishment): https://www.youtube.com/channel/UC1Mx51ssuTutEn8gpsgNwjg
Sam Hawking (solicitors)
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