The Potential Impact of the October Budget

Property Magic Podcast

Simon discusses the potential implications of the upcoming Labour government's budget on property investing, particularly focusing on anticipated increases in capital gains tax. He explains how these changes could create a unique opportunity for investors in the next four weeks, as many landlords may rush to sell their properties before the new tax rates take effect. He also outlines strategies for negotiating better deals, including vendor finance, which allows sellers to maximise their sale price while minimising their tax liabilities.

KEY TAKEAWAYS

• The upcoming budget from the Labour government is expected to include tax increases, particularly in capital gains tax, which could significantly impact property investors.
• The next four weeks present a unique opportunity for investors to negotiate lower prices with landlords who may want to sell before the potential tax increases take effect.
• Investors can consider using vendor finance, where the property seller acts as the bank, allowing for quicker transactions and potentially avoiding higher capital gains tax rates after the budget.
• If many landlords decide to sell before the budget due to anticipated tax hikes, it could lead to a surge in property listings, creating a buyer's market and potentially lowering property prices.
• Investors are encouraged to act swiftly and implement strategies to secure deals before the budget announcement, as opportunities often arise during times of uncertainty in the market.

BEST MOMENTS

"We expect there are going to be some tax increases... capital gains tax is one of the areas that many people believe we're going to see an increase in taxes."

"For the next month, you could go out and find people who have got a property that they want to sell... they realise if they sell now, they're probably going to pay a lot less tax."

"I would put money on the fact they're definitely going to raise the capital gains tax rate."

"When everyone else is panicking and worrying about what could happen, there's always a silver lining if you know how to look for it."

VALUABLE RESOURCES

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Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32.

Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors.

Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth.

Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book.

Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.