Discuss our monthly retained accountancy services
Stamp Duty Land Tax
You need to pay Stamp Duty Land Tax (SDLT) when you buy or transfer a property. Did you know that Optimise has saved over £35,000 SDLT for just one client? That is because the solicitor in question used a generic HMRC calculator that provided them with the wrong results. We have now built an SDLT calculator for you to use. There are some great tax-saving tips included in this SDLT calculator too.
Capital Gains Tax Calculator
You will need to pay Capital Gains Tax (CGT) when you sell a commercial or residential property. You will also need to calculate and pay the CGT liability over to HMRC within 30 days of disposal. How much CGT do you need to report and pay within 30 days?This spreadsheet helps you work out the CGT liability and what information is required for HRMC.There are 6 ways in which we have identified will save you CGT. These tax-saving tips are included in the spreadsheet.
Should You Buy The Next Property In a Company?
Limited company or in my personal name? It is hard to decide. There are many opinions on social media telling you what to do. That worked for them but what about your unique financial situation? We have built a spreadsheet that compares the mortgage interest charges and tax liabilities. Our spreadsheet directly comparing the two results, be it in a limited company or in your personal name. This is a great spreadsheet to give you comfort that you are buying the next residential property in the right tax structure. Many people buy in a limited company, but do you need to?
It is one thing to buy properties but it is another to be tax efficient. Capital or revenue? This is the debate that many clients have with their ill-informed accountants. People are missing out on costs to reduce their tax liabilities as their accountants do not allow the refurbishment costs to be offset against their taxable income. We have created a spreadsheet that takes away the noise and allows you to be tax efficient as it explains what costs may be offset against your rental income and what costs are capital (helps you to reduce your capital gains tax liability when the asset is sold).
Limited Company - Extract Cash
What are the most tax-efficient ways to take money out of your limited company? People know about taking tax-free wages and dividends form their limited company to utilise their personal allowance of £12,500 but what about the rest of the £7,500?Yes, £7,500 more income can be taken out of a limited company. But how I hear you ask. Simple, buy this spreadsheet that allows you to enter your limited company profits and helps you to identify the best cash extraction for you and your family whilst paying the least amount of tax.