Tax Increases Coming YOUR way. Property likely included

The Property Nomads Podcast

Rob discusses the impending tax increases that are likely to affect the property market in the UK. The Chancellor's sudden realisation of a £22 million black hole in public finances has prompted the government to consider raising taxes rather than cutting down on spending. Rob stresses the importance of having a strong power team, including a good accountant and tax advisor, to navigate these potential tax changes and remain tax-efficient.

KEY TAKEAWAYS

• Tax increases are likely coming for property owners due to a £22 million black hole in public finances.
• Having a strong power team, including a good accountant and tax accountant, can help mitigate the impact of tax increases on property businesses.
• Potential tax increases could include changes to capital gains tax, income tax rates, corporation tax, VAT, national insurance, and inheritance tax.
• The government may target smaller landlords with tax increases, potentially impacting how property businesses are operated.
• Despite the looming tax increases, having a good power team can help navigate and minimize the impact of these changes on property investments.

BEST MOMENTS

"Tax increases are coming your way. Property is likely to be included."

"Argentina, with Javier Melo, who has gone in, attacked the Argentinian economy with a chainsaw, as he said he would, and has turned Argentina's budget deficit into a budget surplus."

"We were once a shining light on the world. You know, we're not really anymore, but we like to poke our noses in every now and then."

"Always have a good power team. Always have a very good team around you. They will help you."

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