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The Seven Deadly Tax Saving Strategies - Two of Seven
Welcome to the Second of Seven Property Tax Saving Strategies brought to you by Homes Seekers on behalf of Amer Siddiq.
Strategy 2 – Using Property Management Companies
to Slash Your Tax Bill!
Set up your own property management company
and save £pounds in income tax!
I really hope that you have already benefited from the FIRST Property Tax Strategy and have already appreciated that you can pay less tax to the taxman just by purchasing a property in a partnership!
Well, I am now going to demonstrate another way to make an even greater tax saving, regardless of whether you buy properties in your sole name or as a partnership!
Remember, one of the easiest ways of making money through property is to PAY LESS TAX!
Just like the previous Property Tax Strategy, I recommend that you print off and file this strategy away so that you have easy access to it whenever you are off-line!
Ever wanted to have your OWN company?
I am sure you have!
In fact, most entrepreneurs aspire to having their own company and one day being able to refer to themselves as being a ‘company director.'
But what better way than to be a director of your own company?
Setting up a company to MANAGE your property portfolio can be an excellent strategy to make sure you pay less tax!
So, let's take a look at exactly how it could possibly benefit YOU!
Are you a middle-band taxpayer?
Do you pay tax at the rate of 22% or less?
The average income for a person in the UK is just under £22,000. So, in all fairness, most of us are middle-band taxpayers, i.e., we pay tax at 22%.
We all aspire to have higher incomes. But, unfortunately, along with a higher income usually comes more tax.
What if you could have a higher income, yet pay no additional tax? Does this sound too good to be true?
Well, it isn't!
About the Author: www.propertyconceptonline.com provides readers with the latest reviews, articles, commentaries and write-ups on Tax Saving Strategies, property-tax-portal, annual income tax bill related subjects.