How LLP Work, Save Money on Property Deals Using SSAS&Property Hacks (Live Q&A) - a podcast by Mark Homer

Mark answers questions from his mentees. Discover how you can utilise limited liability partnerships (LLPs) for your business, how you can SSAS for residential property purchases, how you can transfer properties to ltd companies, and how you can claim incorporation reliefs instead of paying capital gain. He gives detailed answers and great advice on their problems. You might have some questions about property that Mark has answered already so make sure to check out this episode.

KEY TAKEAWAYSAdvice for company structure arising from business plan reviews. A business plan has 70% rent to SA, 20% e-commerce, 10% acquisitions.

Mark suggests including 1 LLP to offset against taxes. An LLP comprises two or more people (i.e. sole traders) and it limits the liability. The debts of the LLP can not be your debt personally.Can a single property be transferred to another company? Some put it in an LLP for 2-3 years the move it to an ltd company, but you got to pay the fees. If you’re dealing with multiple properties, you can directly transfer to an ltd company and claim incorporation relief.Can SSAS be used to purchase residential properties? If you want to use the money for residential purchases, it can lend the money to an ltd company as a loan but it needs to be charged over the building.
Section 162 Incorporation relief – You can claim incorporation relief and not pay capital gain when you’ve proven that validity of your business.BEST MOMENTS                                                                                                                                                                                
"I think having 1 LLP in your suite of entities is definitely good idea.”“If you've got a lot of properties, you can go straight to an ltd company and claim incorporation relief.”

VALUABLE RESOURCESProgressive Property

ABOUT THE HOSTMark Homer is an entrepreneur investor.  He has worked with investment since he was 15 years old using the laws of wealth! He is a spreadsheet analyst with an impressive following from major publications including BBC Radio, The Wall Street Journal, The Independent, as well as co-authoring the UK’s best-selling property books.  Mark has always looked for the best investment vehicle, and at the end of 2007 with Rob Moore the co-founder of Progressive Property his joint portfolio produced more profit than any of the other investments he’d tried in the last ten years, combined.

Contact MethodEmail: Markhomer@progressiveproperty.co.uk
LinkedIn: https://www.linkedin.com/in/markhomer1Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressiveSee omnystudio.com/listener for privacy information.

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