How much tax do you pay when you flip?
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- Опубликовано: 11 сен 2024
- Tax? I think of it as a contribution to schools and hospitals. However there is still no need to pay more than necessary!
Start with the good stuff? How much money you can make flipping?
Typical profit? 20% mark up. Sell a £500k property likely to make around £100k profit (before tax)
In this video I walk you through the different systems to flip property to have different amounts of tax to pay.
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It’s not not your money, it’s Ltd money. To withdraw money to your name, you have to pay addit tax :) it’s better to count beforehands
Best to do all modelling before deciding the structure isn't it!
Thanks for sharing your insights as usual.
Welcome! Good luck!!
Hi Susannah,
Would you have a Deal Analyser for Flips to work out 20% mark up?
Thanks
Hello I replied on your other comment as well so I will copy that here for you
Hi I have two free checklists that are likely to help you.
Flips: thegoodpropertycompany.co.uk/product/work-out-flipping-property-costs-checklist/
Property: thegoodpropertycompany.co.uk/product/analyse-your-property-portfolio-checklist/
If only the government spent it on schools and hospitals instead of giving there pals goverment contracts
Having felt really let down by our beloved NHS these past 2 years yes I would like to see funding improve that service.