The first thing to do is not to panic. The main changes do not start to kick in until 2017 and won’t be fully implemented until 2020 and a lot can change by then. After all before 8 July 2015 no one expected these changes. So sit down relax and have a cup of tea or coffee.
Now you are relaxed there are several other ways to invest in property which avoids the issue of the changes announced on 8 July 2015 including:
- Looking at investing through a limited company – this is not the easy solution so many people are suggesting it may be – so get the right advice.
- Splitting the ownership with your spouse – this can reduce tax for both income tax and capital gains tax.
- Moving into rent to rent or property flips.
All of these choices have positive and negative aspects. Your own tax position as well as your long-term needs are vital in making these decisions.
If you want to know more contact me.
Check out our other blogs or for more information on this or our other services please visit our website at www.reynoldsandco.co.uk or contact Nigel Reynolds at:
Telephone: 0333 210 1717