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Mark Homer Talks Dogecoin | Property Investing vs Cryptocurrencies

Mark Homer Talks Dogecoin | Property Investing vs Cryptocurrencies

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Tax Advice Landlords & Property Investors Need To Know | Tax Tips From My Accountant

Tax Advice Landlords & Property Investors Need To Know | Tax Tips From My Accountant

In this episode of Mark My Words, Mark speaks to his accountant, Chris Wilkins. Chris has been Mark’s accountant for 11 years now! Chris talks about property tax, HMRC enquries, property structuring, changes in corporation tax and more.

The thing that was right at the front of property people’s minds when Chris was last on the podcast was section 24. Now it has had a full effect, mortgage interest for a residential property is not deductible in your rental accounts, it’s a tax reducer. There are a lot of ramifications, especially for those who were on the cusp of the higher rate tax band and those with large portfolios who could easily be paying more in tax than they are making in profit.

Being in the know, or having an accountant in the know, around HMRC rules and regulations can save you a lot of time, hassle and money. HMRC frequently break their own rules and ask for things you technically don’t have to give them.

When buying a property (e.g in your name –vs- creating a limited company) it’s important to find out the tax implications, in both the short and the long term. It could make a significant difference in what you owe.

There are many ways you can file accounts at companies house. You can find that something that you did 6 years ago, actually ends up saving you further down the line so you should always file with the future in mind.

VALUABLE RESOURCES

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

CONTACT METHOD

Email: [email protected]

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

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My Latest Property Investment | 39 Apartments

My Latest Property Investment | 39 Apartments

Mark Homer Progressive Property co founder gives an update about one of his current investment properties. Currently developing 39 apartments in the city centre of Peterborough, if your looking to scale up your portfolio this is the video for you.

More videos from Mark
How I Went From Zero to Multi Millionaire Property Developer
https://www.youtube.com/watch?v=ZONoj8v3usU&t=28s

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Housing & Stock Market Crash Incoming | Market Crash Revealed | Property Market Crash

Housing & Stock Market Crash Incoming | Market Crash Revealed | Property Market Crash

Are we in a bubble? when will it pop? When will the stock & housing markets going to crash. Mark Homer goes into detail revealing all in this must watch market & economy update video, get ready!

#HousingMarketCrash #StockMarketCrash #MarketCrash

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99 Apartment Project Update | Mark Homer | Property Development

99 Apartment Project Update | Mark Homer | Property Development

Previous video in the series
https://www.youtube.com/watch?v=ZONoj8v3usU&t=27s

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#MarkHomer #PropertyDeveloper #ProgressiveProperty

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What the 2021 UK Budget Means For Property Investors

What the 2021 UK Budget Means For Property Investors

There have been many predictions of market crashes, recessions and a great depression looming in the next few years and many people have been anxiously awaiting Chancellor Rishi Sunak’s 2021 budget briefing. Join Mark today as he depicts the budget and explains what this means for you. Mark discusses the freeze of the nil rate allowance, the increase of cooperation tax to 25% and the end of the bounceback schemes.

It is going to take a while for the economy to recover. The first thing the chancellor Rishi Sunak has said is that there will be no increase on income tax, national insurance or VAT, however he will freeze the nil rate allowance which typically rises every year. He will also freeze the top tax rate. These strategies are a slightly less visible way of taking the money back, and it does not happen straight away.

Many people thought that the capital gains tax rates would go up however Rishi stayed silent on this matter. Rishi also confirmed that he would not change the inheritance tax allowance and would not change the pension lifetime limit which is £1million.

Unlike reports of corporation tax going up to 23% he is going to raise the rates to 25%. This rise will not be seen until 2023. The current rate is 19% and many people will notice the 6% rise significantly. Smaller companies with less than £50,000 will still pay 19% and inbetween £50,000 and £250,000 you will pay between 19%-25% depending on how much the company makes in that tax year.

At the end of March when the bounceback loans end there is going to be a new loans scheme where the government is going to guarantee 80% of the loan. The business rates holiday will continue until the end of June with a tapered reduction and the 5% reduced rate of VAT is extended until the 30th September with a 12.5% rate until mid next year.

The big news in the property world is the stamp duty holiday extension. This and the 90% mortgage guarantee will support the lower end of the property market. With all the government support it seems less likely that the market will crash.

All the schemes have given consumers a lot of savings to spend, there is a huge amount of money in savings accounts and as the economy opens up, they are going to go and spend that money and there is likely to be some inflation. As inflation picks up, you could see inflation rise by 3%-5%

#Budget2021 #UKPropertyInvesting #UKProperty

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Getting Started as a Property Investor | Best Investments & Cryptocurrency

Getting Started as a Property Investor | Best Investments & Cryptocurrency

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Mark Homer’s Analysis on GameStop & Bitcoin

Mark Homer's Analysis on GameStop & Bitcoin

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Billionaire Investor Reaction to GAMESTOP Short Squeeze

Billionaire Investor Reaction to GAMESTOP Short Squeeze

Entrepreneur and investor of FTSE 100 company Hargreaves Lansdown, Steven Lansdown & Mark Homer breakdown the Gamestop short squeeze.

Hargreaves Lansdown is the UK’s leading savings and investment platform. Founded in 1981 by Peter Hargreaves and Stephen Lansdown, the platform now has over 1.3 million clients investing over £96 billion of their savings.

#Gamestop #WallStreetBets #MarkHomer

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Reacting To Mark Homer’s Property Predictions

Reacting To Mark Homer's Property Predictions

2021 Property Predictions | Will The Market Crash? | UK Property Market
https://www.youtube.com/watch?v=Ktl1BSGZPm0

#2021PropertyPredictions #HousingCrash #Reacting

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