22 January, 2025
Episode 27 – Taxes When Buying or Selling at Property Auctions
Ruban Selvanayagam from quick sale specialists and regulated auctioneer Property Solvers speaks again with Simon Misiewicz, founder of Optimise Accountants – delving into the nitty-gritty of property taxes when buying and selling auctions.
Simon runs through his initial thoughts on Chancellor Rachel Reeves’ October 2024 budget and its impact on landlords and property investors. He goes on to discuss the increased Stamp Duty Land Tax (SDLT) rates alongside how to leverage exemptions and reliefs to minimise your tax liability as an auction buyer.
Simon also shares insights on tax saving strategies for auction buyers like buying uninhabitable or mixed-use properties, commercial acquisitions and navigating the pros and cons of purchasing property portfolios via limited company and other corporate structures.
The discussion also touches on tax-deductible costs and some tips if you’re selling at auction – particularly with regards to Capital Gains Tax (CGT) when selling personally-owned properties and Corporation Tax with assets owned in a Limited company.
Links (Resources) Referred to in the Podcast
Optimise Accountants YouTube Channel
Follow Simon Misiewicz on LinkedIn
