Property TV - Property Question Time - S1 Ep199 - Andy Wood, Simon Zutshi and Paul Mahoney - Nova

Property TV – Property Question Time – S1 Ep199 – Andy Wood, Simon Zutshi and Paul Mahoney

Stephen Galpin: Hello, and welcome to Property Question Time. This is the program where you can have your property-related questions answered by our team of experts. I’m Stephen Galpin, and with me today are Simon Zutshi. Simon; Author, independent property investor, welcome.

Simon Zutshi: Welcome.

Stephen Galpin: Andy Wood, Director of ETC Tax, welcome to you.

Andy wood: Hi, there.

Stephen Galpin: And Paul Mahoney, founder and CEO of Nova Financial Group, and new published author.

Paul Mahoney: Stephen.

Stephen Galpin: Welcome and well done for the publishing of your new book.

Stephen Galpin: Simon, to you for the first question. Having bought a one-bedroom flat in London three years ago with a £25,000 deposit, I’ve not got £100,000 equity, maybe a tad more. I really want to make the best use of this by growing a small property business, so wondered how I’d start.

Simon Zutshi: Okay so we don’t really know if it’s a place where he’s living or if it’s an investment property. And that will affect what he can do. So London has done very well, last couple of years, although it’s slowed down a bit, now; but if it’s his own property and he’s has an increase in equity, depending on his income, he might be able to release some equity from the property. And likewise, if it’s an investment property, depending on the rental income from the property, he might be able to release a bit of cash. And that is what most people do. They buy properties, the value goes up, they refinance, they take some money out and use that as a deposit for another property.

Simon Zutshi: To yeah, very possible to do. I’d recommend … Many people make the mistake of going to their bank to ask what the bank could do, and banks have very limited finance, really, available for property investing. So I’d highly recommend going to a fully independent mortgage broker. Explain the situation, and they’ll be able to search the market and see what’s the best thing they can do.

Stephen Galpin: Okay. Paul, you’re an expert in this kind of strategy. What do you have to say.

Paul Mahoney: Yeah, look, I agree with Simon. It’s a fairly well tried and tested method: Releasing equity, buying your next property, and that can have a bit of a snowball effect, as well. You know? You go from having one to two, two to four, four to eight. We have a simple way of looking at it, but it can work out that way if you invest in that way.

Stephen Galpin: Okay. And the only tax implications, here, I’m just wondering if it’s not his home, the money that he raises and reinvests, is there any complications there?

Andy wood: Well, yes. So again, for any landlord who is taking on leverage, so borrowing money to buy property, one of the key issues is going to be whether they can get a tax deduction for the interest on that mortgage, on that loan. And I’m sure many people would be aware the picture has changed in what … In the olden days, when things were much more simple, a landlord was treated like any other business owner, and could pretty much get a deduction for any revenue expense in conducting his business. And one of the key expenses being interest.

Andy wood: The government, for whatever reason, has decided that landlords shouldn’t be treated like any other business owner, and where you have an individual, or other income tax payer, looking to deduct interest relief from the profits of the business, then that is restricted going forward. So that’s one thing to make sure-

Stephen Galpin: Well, what was the rationale behind that? I mean, I thought we’re about encouraging landlords and-

Paul Mahoney: Tax credits.

Stephen Galpin: Well, that’s all it come with, isn’t it?

Andy wood: Yeah.

Simon Zutshi: And also, I think the government doesn’t want lots of independent landlords. They want people to … They want corporates and institutions to be the property owners, so what many people are doing … Obviously, you have tax advice, but many people are now buying within companies.

Andy wood: Yeah, absolutely.

Simon Zutshi: They’re easier to tax, easy to regulate. And I think that’s one of the reasons the government done it.

Paul Mahoney: Another really interesting point on that, that I find a lot of people misconceive is that not everybody’s affected by Section 24.

Simon Zutshi: Absolutely, yeah.

Paul Mahoney: You know, basic rate taxpayers. So if your income tax and your property tax is less than £50,000, there’s very little effect of Section 24, so long as that stays well under the higher tax rate.

Stephen Galpin: Mm-hmm (affirmative).

Andy wood: Yeah, I mean you have to be slightly careful about that, in saying the way that the changes were marked were … You know, it’s not affecting basic rate taxpayers, but if you take a position where somebody, I don’t know, they might have a token bit of employment, even be it £20,000 £25,000 or something like that, and they may have … Let’s say they’ve got £100,000 with the rental income coming in, but it was highly leveraged, so there was £90,000 with interest or something like that, say again. So they didn’t really have any real taxable profits in the old regimes, in the £10,000s.

Paul Mahoney: Yeah, exactly. So gross property profit and income needs to be under £50,000 to [crosstalk 00:05:00]-

Andy wood: Yeah. So in that example, they would be a basic rate taxpayer, but the effect of the changes people are talking about, is Clause 24, is you go through a two-step process. So what you do is you add all interest back in, so in that scenario, you’ve got £100,000. You then work out the tax on the £100,000, and then you get 20% tax credit for the interest. So it actually does affect people who may consider themselves to be basic rate taxpayers. So you’ve just got to be a little careful.

Stephen Galpin: Well, I think this just underlines the theme we have in Property Question Time many, many times. Paul, you’ve answered this many, many times. And it’s really just a need to have the experts on side with you.

Simon Zutshi: Absolutely.

Stephen Galpin: It’s a real business, today.

Andy wood: Yeah.

Simon Zutshi: Yeah.

Andy wood: And your question, you asked about the rationale. The answer is, I don’t know. Beats me.

Stephen Galpin: Okay, well-

Simon Zutshi: Are they trying to get extra votes for the Labor Party?

Stephen Galpin: Possibly.

Simon Zutshi: Possibly.

Stephen Galpin: Okay, Andy. Well, this is your first question. I’m five years away from paying off my mortgage. The value of the property is currently around £750,000. I want to make sure that when I do have it paid off, I can protect the value of the house for sharing amongst my children without losing any of the value in terms of death, duty, or other taxes. Can I assume that planning this is the key, and there is a way I can do this?

Andy wood: The main home, the main residence is a difficult asset to plan with, from an inheritance tax point of view. But first and foremost, if you are planning to continue living there … So, the basics are clearly anybody who’s going to have an inheritance tax liability in the UK, generally speaking, is going to have nil-rate band for inheritance tax purposes. So a married couple would get use of two nil-rate bands on second death and the value is £325,000. So if there’s a married couple or civil partners, it’s £650,000.

Andy wood: Where you have families where their main asset is the main residence, and perhaps there are other assets; they haven’t got a great deal … They can take advantage [inaudible 00:07:15] the main residence nil-rate band, which essentially is an enhanced version of the ordinary nil-rate band, and it’s been phasing over several years. But when it’s phased in, essentially, if the only asset you have in your estates is your main home, maybe a few other bits and bobs, the nil-rate band for a joint couple would be extended to £1 million. So you’d be able to pass on, in the particular example that you illustrated there, you’d be able to pass on the main home to direct descendants without paying any tax.

Andy wood: That’s not helpful if you have other assets in your estate, because the value of that main residence nil-rate band essentially starts to fall away if your assets … I think it’s over about £2 million. So you’ve got to be careful there.

Andy wood: If you’re wanting to do something a bit more creative, you have to be very careful, because … You can think, “Well, I’ll make a gift in my property,” and this is often the thing that clients come to you. “I’ll give my home away to the kids,” the land registry puts it in their names, do a deed of gift, everything legally is in order. But for tax purposes, if you continue to live there without paying a market value of rent, then for tax purposes, it remains in your estate. So if the gift has strings attached, and you want to carry on living in your home; not an unreasonable thing. It will remain in your estate for tax purposes. So you’ve got to be careful that you either … Essentially, you have to stop living there, or you have to pay a market value of rents.

Stephen Galpin: Okay. And where these sort of property transactions are critical to somebody’s estate, a normal firm of accounts. And I mean, by that, as sort of just mainstream firm of accountants would be quite capable of advising you, rather than any kind of property specialist.

Andy wood: I think … I mean, this legislation has become incredibly complex. In all areas, really, over the last few years. And a lot of accountants will, I think, even they will acknowledge that perhaps tax is something that … Other than the very mainstream stuff, is perhaps something that they’re not comfortable in advising. There are exceptions to that, of course. For something like that, somebody who’s a tax specialist, and who is maybe estate planning and inheritance tax is kind of their bread and butter, is probably the person to speak to.

Stephen Galpin: Okay.

Andy wood: Does it necessarily need to be a property tax specialist? Probably not.

Stephen Galpin: Okay. Paul, moving on to you. All right. Not that we’ve had this question before, but as Brexit hot [inaudible 00:09:48], shall we say, probably legitimate to put it on again. With Brexit and all the negative articles that I read in the papers, is it a good time to invest in property?

Paul Mahoney: Okay. I’ve had this one before. Perhaps on this show, but about 1,000 in person. Okay so first off, the best advice I can give to any investor investing in anything is ignore the media. And the best proven example of that, is think back to 2007. All of the media was saying property prices are never going to stop, share prices are never going to stop, and then there was a crash. So you can almost bet when the media is saying that there’s things to worry about, there’s probably not too much to worry about. Because quite often, what happens then, is we get a boom. So ignore the media.

Paul Mahoney: Secondly, I read an article about this last week, actually, on the case of … the fact that at the moment … If we look since Brexit, since the referendum, the property market’s actually done quite well. So there was all these doom and gloom predictions leading up to the referendum. If it went Brexit way, the property market would crash. It hasn’t. You know? The UK property market grew by 8%, on average, since the referendum; so 4% a year. It’s really only been the last sort of three to six months leading up to the Article 50 deadline, which of course, we passed, now; where the transactions have slowed down a bit.

Paul Mahoney: So there’s pent up demand. People still want to buy, but they’re holding off. So you’ve got this pent up demand. The more the months go on, the more pent up demand there is, because we’ve got uncertainty. And once Brexit’s resolved, that certain would return somewhat, and that pent up demand will return somewhat. And we’ll probably have stimulus, as well, because the government will want to justify what they’ve done with regards to Brexit, how they’ve stuffed it up.

Paul Mahoney: But they’ll want to stimulate the economy. So you’ll have return of confidence. You’ll have return of demand, and you’ll have stimulus. And you know, I think that can only equal one thing, and that’s a pretty decent boom in the market.

Stephen Galpin: And where do you see that stimulus coming from, in terms of demographics? We’ve had a lot of overseas investors, particularly in London and Manchester, those sort of areas. Do you think that will come back?

Paul Mahoney: I think it’s kind of still there. I don’t necessarily think overseas buyers have stopped buying. And as I say, it’s only really been the last few months that UK buyers have stopped a little bit. There’s still people buying, obviously. And the UK market is … It’s not won, you know? It’s a two-spade market, at the very least. We’ve got London and the southeast slowing down. We’ve got places like the midlands and the northwest still doing very well.

Paul Mahoney: So in a very simple answer, yes. Now is still a good time to buy. In fact, now is probably the best time to buy, because there’s some good deals in the market because there’s less people buying. So you know, developers, vendors are willing to give a little bit on price because there’s less people buying at this point in time.

Stephen Galpin: Yeah, okay. All right, gentlemen. That’s all we’ve got time for in this half of the show. Don’t go away. Join us again shortly after the break.

Speaker 5: Property is a great investment option, but it’s one of the largest purchases that you’ll ever make. As individuals, we’re all limited by our resources. And regardless of our experience, knowledge or time, we can achieve much more with the help of a qualified team, and extra resources being available. Nova Financial specialize in assisting clients to achieve financial freedom through property investment. With over 100 years of experience, we shape your family’s future.

Speaker 5: To invest in property with absolute confidence, call us on 0203 8000 600, or visit nova.finacial.

Speaker 6: Looking for your freedom where you can live, retire, holiday, and invest? We know where you can find it. 22nd and 23rd of June, 2019 at the Motorcycle Museum, Birmingham.

Speaker 7: The tax system has evolved significantly over recent years for property investors and developers. You may think that you and your accountant have a grip on these changes. However, unless you’re receiving specialist tax advice from a specialist tax advisory firm, then it’s unlikely to be the case. At ETC Tax, our team of highly experienced chartered tax advisors work with private individuals and companies to deliver effective tax planning whilst meeting HMRC compliance requirements.

Speaker 7: Let us help you to meet your personal or commercial objectives in the most tax efficient manner. ETC Tax, making the complex simple.

Simon Zutshi: Hello. My name’s Simon Zutshi. I’m the author of Property Magic, which you can buy on Amazon for £12.99, or indeed, get it on Audible, if you prefer listening to books. Now, I started investing in property in 1995, and I became financially independent by the age of 32. But I made a huge number of mistakes, because I learned the hard way. You don’t have to do that. I’ve explained in this book how you can make a huge amount of money investing in property when you know how to do it. And one of the secrets is working with motivated sellers; people for whom the speed and surety of the sale is more important than the amount of money they get. And we look to find people who’ve got a problem and come up with an ethical, win-win solution. I explain exactly how you do it in here.

Simon Zutshi: It’s a best seller. You can buy it online, as I said. However, you can get a complimentary copy. All you have to do is phone the number below or go to the website. I ask you just to pay for the postage. Tell us where you want to send it in the UK, and well send it completely free of charge to you.

Simon Zutshi: Call us right now, and we’ll send a book to you straight away. Learn how to invest with knowledge, invest with skill.

Stephen Galpin: Welcome back to Property Question Time. I’m Stephen Galpin, and with me are Simon Zutshi, Andy Wood, and Paul Mahoney. Welcome back, guys.

Stephen Galpin: Simon, your first question of the second half: My son has been given £35,000 by his granddad. He’s intent on getting onto the property ladder, despite having only just started university and having a student loan with a 6% interest rate. Am I being shortsighted, or wise to suggest he pays off the loan with that money?

Simon Zutshi: So what a great position To be in. I personally wouldn’t pay off the student debt. That’s a debt that can be there for quite a long time, at a not too bad interest rate. But that £35K could be the acorn needed to start the young lad’s property portfolio, if you like. A great idea could be for him to buy a property for himself to live in. In his first year at university, he’ll meet some friends. He should buy it in the first year, and then him and his friends can move in in the second year. Now, obviously being a student, he won’t have an income. So normally, you have parents who can be guarantors to say, “Yes, we can support the income.” But in reality, if he rents out some of the rooms to some of his friends for university, that will be more than enough to pay the mortgage, probably. So he can probably live rent-free. In fact, under Rent a Room Scheme, he can earn £7,500 of rental income completely tax free. And if he’s a student, he’s probably not working, so he’s got a personal allowance as well.

Simon Zutshi: So it’s almost £19,000 of rental income can come in with no tax. So that should cover all the costs, and it’s getting his foot on the ladder, creating good credit rating for him. And then when he leaves university, he might decide to sell that, or he might decide to retain that property, continue to rent it out, and then go and buy another one to live in.

Simon Zutshi: So I think it’s a great opportunity with that gift of cash. I would definitely get on the ladder if I was him.

Andy wood: Yeah. I certainly like the idea of buying it in the child’s name. And as Simon says-

Simon Zutshi: Yeah.

Andy wood: From an income tax point of view-

Simon Zutshi: Absolutely, yeah.

Andy wood: A great thing to do. But [inaudible 00:17:52] if the parents were to buy it in their own name, they’d have-

Simon Zutshi: Exactly.

Andy wood: … 3% additional rates.

Simon Zutshi: Yep.

Andy wood: Also-

Simon Zutshi: Also, capital gains. You know? If this had been his own home, if he comes to sell it, there’s no capital gains there.

Andy wood: Yeah. And outside the parent’s estate, if-

Simon Zutshi: Yeah, perfect.

Andy wood: For inheritance tax purposes, as well.

Stephen Galpin: Paul, I’m just noticing in the press over this past couple of weeks is the re-emergence of 100% mortgages coming in from a few lenders now.

Paul Mahoney: Yeah.

Stephen Galpin: Personally, I quite like that. I don’t think it were our kids having 100% mortgages that caused the problems in 2008. I think it was these people, the other side of the water, selling portfolios. So I’m quite keen to see that, because I don’t necessarily think it does mean any kind of irresponsible lending. Are you the same mind?

Paul Mahoney: Yeah. Look, I tend to agree. I think 100% mortgages, my understanding is they’re only giving them when they’re guarantored by the parents. So there is still skin in the game. You know? Because there’s a loss to the parents if you stop paying. I don’t think you can give someone a mortgage and a house and not take any money off them, or have anything held over their head. Because otherwise, if they lose their job, they’ll just stop.

Stephen Galpin: They need equity, in the real sense of the word.

Paul Mahoney: There needs to be something to drive them to pay. So yeah, I think that’s a good idea. Get people on the property ladder, even if they can’t save … I look at our grads in our office and I think, “Well, how are these guys ever going to buy a place in London?” It’s almost unattainable for young kids to save that sort of money, but then also have the income to get the mortgage they need.

Paul Mahoney: But back to the question, just on a numbers perspective … So we mentioned the student loans costing 6%, but assume he’s not paying for either; it’s accumulating. So if you look at that from that perspective, if he could put his £35,000 into that and pay it off; but can he get a better return than that cost? And I think far too many people look at debt solely on a cost basis, rather than the benefit of the debt. You know? And if he can definitely get a better return from a property than that 6%. You know? Quite often, you’re aiming for so 20%, 30% plus on the cash invested when you’re using leverage to invest in property.

Paul Mahoney: So the benefit there could be 10%, 20% over and above the cost. So I think that’s always a pretty logical way of looking at it.

Stephen Galpin: And I think also, again, we’ve seen in the news is new legislation hoped for, where student loans are going to be spread out to a longer age span, before repayment becomes due. So it’s effectively free money, isn’t it?

Paul Mahoney: Yeah.

Stephen Galpin: Especially in this case.

Paul Mahoney: Well, until you have to start paying for it.

Stephen Galpin: Well, if you do. But I think again, the figures on the repayment levels; I think it was only something like 40% were actually due to be repaid, so …

Simon Zutshi: Yeah, a lot of people are not earning enough money to actually repay them.

Stephen Galpin: No, no. Okay, thank you.

Stephen Galpin: Andy, as a landlord, I want to run my properties as a business. That’s good news. Now, I want to do this in such a way that it can be profitable on a month-by-month basis. And I believe that by employing people to help me run the business, I can reduce the tax liability. Is this a common way for landlords to work when they’ve got more than a couple of properties?

Andy wood: Seems a slightly puzzling way of looking at things, that you’re employing people to reduce your tax liability. Because obviously, you’re paying them a salary and giving them money.

Stephen Galpin: Yes.

Andy wood: But yeah, on the assumption That they’re all necessary for the growth of the business, and you’re paying them a fair wage for what they’re doing, then that should be a tax deductible. It may be a slightly cynical approach, but I always start thinking what people may be thinking about when they ask these questions. But you have to be very careful about if you’re employing family members. So children, if you’re just going to [inaudible 00:21:41]them £50,000 a year for opening a few envelopes, that’s clearly not going to be particularly convincing in HMIC’s eyes.

Simon Zutshi: Not [crosstalk 00:21:49], no.

Andy wood: But if you take it at face value, though employing proper people to do a proper job and they’re going to pay them a proper wage, then that should be deductible.

Stephen Galpin: And again, with legislation on people claiming to be self-employed, that’s rather more complex these days. You’ve got to prove a multiple of invoice endpoints, haven’t you? And so forth.

Andy wood: Yeah. It becomes more complicated if you have somebody who is essentially an employee pretending to be something else. Contracting through a company and trying to get paid gross. But that’s perhaps a conversation for a different day. If you are employing people, genuine employees, and they’ve been paid a fair salary, that’s going to be deductible.

Paul Mahoney: I think that’s quite a relevant saying for this person. Don’t let the tax tail wag the investment dog.

Stephen Galpin: Yes.

Simon Zutshi: Yeah.

Paul Mahoney: A lot of people go into investments with tax in mind. That never works out. You know, invest to make money, but then also structure it in a way to save tax.

Stephen Galpin: Well, and I mean paying tax doesn’t meant you’re making a profit, doesn’t it? So not-

Andy wood: Well, I mean-

Paul Mahoney: Absolutely.

Andy wood: I mean, absolutely I make a living out of tax, and I don’t say it too loud and too often, but tax isn’t the most important thing in the world. It’s the commercial and the personal objectives.

Simon Zutshi: [crosstalk 00:23:02]?

Andy wood: Yeah. Heresy. Heresy.

Stephen Galpin: Paul, onto you. Your question is this: I’m thinking about getting a buy to let. I have £200,000 but can’t decide whether to buy one property with the cash or take a mortgage and buy in multiples. Can you please give me some guidance?

Stephen Galpin: Well, I know just what you’re going to say.

Paul Mahoney: Well, the main reason I like property as an investment options is because of the leverage. A cash-bought is okay, but when you compare it to other options like shares, it’s quite similar. It’s maybe a little bit more stable, but the returns aren’t that great on a net basis. So I’m strongly of the opinion that anybody who has property and is extremely wealthy, but they’re cash-bought, is just under-utilizing what they’ve got. Because mortgages are very cheap, and they’re low risk. The fact that you can borrow, at the moment, at 2%, 75% loan-to-value over the long term, and with no ability for a lender to recall that mortgage, so long as you keep servicing it, regardless of what happens to the value of your property, there’s no other investment option That you can do that with.

Paul Mahoney: So that means that, for this person, for example, if they take £50,000 and buy a £200,000 property, they can achieve relatively average returns on that £200,000 property, and that will give them really fantastic returns on their cash.

Paul Mahoney: So they don’t need to set the world on fire. Therefore, they can be conservative. You know? They can invest in properties they’re going to rent every day of the year that aren’t going to double overnight, but should grow consistently and still get really good returns on their cash.

Paul Mahoney: So in my opinion, leverage property you don’t necessarily need to maximize returns. It’s not about getting the best possible yield or the best possible growth; it’s about getting consistent returns, and that will give you good returns on your cash.

Paul Mahoney: So in simply answering the question, I think they should use leverage. They should seek advice on what type of leverage is most suitable for them, and what they should invest that money in to give consistent returns; so low risk. And that will give them a much better return on their money.

Stephen Galpin: Okay. Simon, just one question I wanted to ask. Paul mentions leverage of capital and can see the sense in that. And that’s something, again, we’ve had many times on Question Time, isn’t it? I’m just thinking of the people that are … I think our government would term them as accidental landlords rather than sort of ultra high professionals. Would you have a concern for people leveraging money when they’re not, in themselves, really business people?

Simon Zutshi: Well, I think you should always treat your property like a business. That’s what it is, and that’s what it should be treated as. But I don’t think you have to be an entrepreneur to do property. You could just be in a great job, you’re making good money, and you recognize actually, you want to do something with your cash, and so you can put that into property. So I don’t think you have to be a business person, per se.

Simon Zutshi: What I would say, is very important to educate yourself. There’s a lot to understand about legislation and letting properties out that you are responsible for as a landlord. So it shouldn’t be taken lightly, but education’s really important. Joining some of the big landlord associations are probably a really good idea, as well, to keep up to date.

Simon Zutshi: But I completely agree with Paul. If you’ve got … Also, not just getting a better return on your money, I would say if you buy a number of properties, you’re actually spreading the risk as long as you do your research. If you’ve got on property and that one property’s empty, well, you’ve got a problem. You’ve got four properties, you shouldn’t have all four properties empty. And so you can have maybe one empty at any one time and still cover the costs, because of the profit from the other ones.

Simon Zutshi: So I think actually, there’s a case for spreading your risk and spreading your money, getting the benefit of leverage, and then getting the overall effects of the market going up over time.

Stephen Galpin: All right, gentlemen thank you very much. That’s all we’ve got time for today on Property Question Time. My thanks to Simon Zutshi.

Simon Zutshi: Thank you.

Stephen Galpin: Andy Wood.

Andy wood: Thank you.

Stephen Galpin: And Paul Mahoney.

Paul Mahoney: [inaudible 00:26:59].

Stephen Galpin: I’m Stephen Galpin. Join me again next time on Property Question Time.

Speaker 8: If you have any questions you’d like to send to the experts at Property Question Time, you can submit them via our website, on social media, or email us on info@propertytelevision.co.uk.

Speaker 5: Property is a great investment option, but it’s one of the largest purchases that you’ll ever make. As individuals, we’re all limited by our resources. And regardless of our experience, knowledge or time, we can achieve much more with the help of a qualified team, and extra resources being available. Nova Financial specialize in assisting clients to achieve financial freedom through property investment. With over 100 years of experience, we shape your family’s future.

Speaker 5: To invest in property with absolute confidence, call us on 0203 8000 600, or visit nova.finacial.

Speaker 7: The tax system has evolved significantly over recent years for property investors and developers. You may think that you and your accountant have a grip on these changes. However, unless you’re receiving specialist tax advice from a specialist tax advisory firm, then it’s unlikely to be the case. At ETC Tax, our team of highly experienced chartered tax advisors work with private individuals and companies to deliver effective tax planning whilst meeting HMRC compliance requirements.

Speaker 7: Let us help you to meet your personal or commercial objectives in the most tax efficient manner. ETC Tax, making the complex simple.

Speaker 9: Proper Wealth covers all areas of wealth creation with a specific focus on property. Hosted by international property finance expert, Paul Mahoney, the show invites industry experts to share their wealth of knowledge with viewers. From topics that include buy to let, tax, portfolio management, finance and planning to hot investment spots and conveyancing. Proper Wealth covers it all. Proper Wealth, exclusive to Property TV.

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