Accountant Reveals HMRC's Dirty Trick!
Episode 73, Apr 01, 04:00 PM
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In this episode, Russell and Anna Leeds, joined by Chartered Accountant Tim Gray, discuss the recent aggressive moves by HMRC against rent-to-rent landlords, focusing particularly on VAT implications. They explore the VAT situation involving the TOMs scheme and HMRC's actions against companies like Sonder. The conversation covers the financial impact of VAT on service accommodation businesses, the intricacies of the TOMs scheme, and potential changes in taxation rules. They also discuss council tax hikes for second homes and service accommodations, potential strategies for business classification, and the broader implications for landlords. Tune in to stay informed about these critical tax issues and learn how to navigate the evolving financial landscape.
Time Stamps
00:00 Introduction to HMRC's Focus on Rent to Rent Landlords
00:20 The VAT Situation with HMRC and Sonder
03:06 Understanding the Tour Operators Margin Scheme (TOMS)
10:42 Council Tax Changes and Their Impact on Rent to Rent
16:12 Creative Solutions for Business Growth
17:02 Navigating VAT in Business
19:58 Council Tax Challenges
22:34 HMRC and Service Accommodation
25:19 Tax Strategies of Big Corporations
29:48 Concluding Thoughts and Future Updates
To learn more about property click https://linktr.ee/russellleeds
Time Stamps
00:00 Introduction to HMRC's Focus on Rent to Rent Landlords
00:20 The VAT Situation with HMRC and Sonder
03:06 Understanding the Tour Operators Margin Scheme (TOMS)
10:42 Council Tax Changes and Their Impact on Rent to Rent
16:12 Creative Solutions for Business Growth
17:02 Navigating VAT in Business
19:58 Council Tax Challenges
22:34 HMRC and Service Accommodation
25:19 Tax Strategies of Big Corporations
29:48 Concluding Thoughts and Future Updates
To learn more about property click https://linktr.ee/russellleeds