In this episode, Shaz answers wide ranging questions from a live audience about commercials conversions, holding companies, capital allowances and TOM’s
He also discusses the ins and outs of business structure and whether your company is classified as a trading or investment business
Listen in and find out more
 
KEY TAKEAWAYS
Renting properties makes the company a trading company
A holding company should hold shares for any other companies
If 20% or more of turnover, profits, value assets, turnover or time spent is directly linked to investment you lose trading status for the group
You are limiting liability when you have a structure with multiple companies
You can claim capital allowances on residential property if you buy, refurbish, and sell but if you are converting it for investment there are no capital allowances
To claim capital allowances you have to have an existing business
Capital allowances can be carried forward
If you have one company managing the properties make sure it’s the company with the assets that are spending all the money on fixtures and fittings
TOMS is for operators who buy in a particular service and sell it on
 
BEST MOMENTS
‘Don’t mix and match companies’
‘Write to HMRC and explain the scenario’
‘When you change something TOMs doesn’t apply
 
VALUABLE RESOURCES
[email protected]
 
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultations he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of
income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on:
  Facebook

  LinkedIn

  Instagram

  YouTube.

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