In this episode, Rob talks about how proposed changes to the tax rules could benefit accidental landlords. As well as the impact this change is likely to have on the UK property market.
KEY TAKEAWAYS
About 40 to 45% of landlords are accidental landlords. They inherit their property.
Accidental landlords make up around 20$ of the private rental sector.
Being a landlord can be quite daunting. There's a lot of rules and regulations.
There are personal tax implications to becoming an accidental landlord.
If capital gains tax is eliminated for accidental landlords more are likely to sell which is likely to stimulate the housing market.
BEST MOMENTS
‘This could be a big game changer, in the property market.’
‘You´ve got more income coming in, you´ve got to pay tax on that rental income. That can create issues.’
ABOUT THE HOST
Rob Smallbone, the host of The Property Nomads Podcast, is on a global mission to guide your success. Success can happen in many ways, shapes, and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?
Rob wants to make a huge difference to people around the world. He is here to guide your success in property, business, and life and to inspire you to achieve your goals, dreams, and visions. He's travelled, explored, and invested. And he's not planning on stopping these activities anytime soon.
Buckle up, sit tight, and enjoy the ride that is life.
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