Episode Details

For more tips and money-making ideas see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr. 

Landlords with more than three properties held in their personal name, or paying higher rate tax, should consider moving their property into a limited company to save tax.

Using a company structure can also help you pass property onto children while mitigating the inheritance tax burden.

It has been 5 years since George Osborne introduced his Sec 24 tax changes, penalising millions of buy-to-let landlords, but you can do something to legally avoid the ‘Osborne gut punch’. 

The process is complex, legal and requires specialist advice. Landlords will incur fees, but the savings more than outweigh the costs.

With the right advice you can legally create a tax-free pot of money!

If you are a landlord or property investor with three or more properties in your own name and would like to save tax email or message me. 

Learn why 85,000 Buy-to-Let Landlords Quit Property Rental Market - https://youtu.be/NME3nEu8dAQ 

Personal Debt Soaring Citizens Advice warns

Half Citizens Advice clients are falling behind with debt payments and budget.

With lending interest rates rising, unlike savings rates, and soaring inflation more and more people are using expensive credit card debt to pay for food.

Citizens Advice guide to dealing with debts

1. Work out how much you owe, who to, and how much you need to pay each month
2. Identify your most urgent debts. Rent or mortgage, energy and council tax are called priority debts as there can be serious consequences if you do not pay them, and so they should be paid first
3. Calculate how much you can cover in debt repayments. Create a budget by adding up your essential living costs like food and housing, and taking these away from any income such as your wage or benefits you receive
4. See how you could boost your income, primarily by checking what benefits you are entitled to, and whether you are eligible for a council tax reduction or a lower tariff on your broadband or TV package
5. If you think you cannot pay your debts or are finding dealing with them overwhelming, seek support straightaway. You are not alone and there is help available. A trained debt adviser can talk you through the options available

Source: Citizens Advice

See: 10 Tips To Avoid Christmas Debt - https://youtu.be/n7vSK5LlONU

The debt charity StepChange reports that the cost of living as their main reason for debt, and seven in 10 of them are women.