Rob welcomes back Adrian Benjamin to discuss property protection strategies. Adrian, with his corporate background and experience in property sourcing, shares valuable insights on how to protect yourself and your property business. They delve into the benefits of setting up a limited company for tax efficiency and how to utilise products like life insurance and executive income protection through the business.
KEY TAKEAWAYS
Setting up a limited company for a property business can provide tax efficiency and allow for financial protection through the company.
Life insurance can be put through a limited company as a company expense, potentially lowering the corporation tax bill.
Shareholder protection is important for joint ventures, as it ensures that the shares of a deceased partner can be bought by the remaining partner, preventing potential issues with decision-making.
Key person cover is crucial for businesses that rely heavily on a specific individual, as it provides financial support in the event that the key person is unable to work.
BEST MOMENTS
"So there's some great products out there where you can still have financial protection but put it through the limited company."
"Your tenants are paying for a policy that will cover the whole portfolio. So it's kind of a no brainer."
"That's what happens with limited company directors. So there's a product called shareholder protection, whereby if that was to happen, you also need a cross option agreement drawn up by a solicitor or legal specialist."
"If that person's off sick or passes away, that's a massive impact on your business because you can't replace them because everything's in their head."
VALUABLE RESOURCES
Book a call with Adrian
Follow Adrian on insta
Connect with Adrian on facebook
Connect with Adrian on linkedin
Subscribe to Adrian on youtube
GET YOUR DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
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ABOUT THE HOST
Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
WHERE TO FIND US
https://linktr.ee/thepropertynomadspodcast
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
