78: Double Trouble: Council TAX Hike Hits Serviced Accommodation Investors!

FREE Training & More : https://linktr.ee/russellleeds

In this episode, hosts Russell and Anna Leeds discuss the recent changes in council tax laws that have significantly impacted property investors by doubling the tax on second homes and service accommodations. They explain the reasons behind these changes and share their own experiences of receiving increased council tax bills. The hosts delve into potential solutions, such as applying for business rates instead of council tax, which could result in significant savings. They provide detailed steps on how to reclassify properties for business rates, highlight the benefits of these changes, and stress the importance of staying informed about property laws and regulations. The video also underscores how a supportive network can help property investors stay updated and agile in a constantly changing market.

Time Stamps
00:00 Introduction: The Unexpected Council Tax Hike
00:37 Personal Experience with Council Tax Increase
01:28 Understanding the New Law and Its Implications
02:38 Government's Rationale Behind the Tax Changes
04:12 Impact on Second Homes and Service Accommodations
07:04 Strategies to Mitigate the Tax Increase
07:35 Switching to Business Rates: A Viable Solution?
08:59 Proving Your Property's Business Use
11:03 Final Thoughts and Practical Advice
12:01 Understanding Council Tax Valuation
12:06 Application Process for Property Valuation
12:45 Challenges and Delays in the Valuation Process
13:52 Criteria for Property Valuation
14:39 Benefits of Switching to Business Rates
16:18 Small Business Rate Relief Explained
18:30 Potential Issues with Property Classification
20:43 Staying Informed and Adapting in Property Business
22:27 Conclusion and Viewer Engagement

FOLLOW US ON SOCIAL MEDIA:
https://www.instagram.com/russellleeds/
https://www.instagram.com/anna.n.leeds/

Welcome to the Property Investors Podcast, a light-hearted and opinionated podcast for aspiring and experienced property investors alike. Join our charismatic hosts, Russell and Anna Leeds, as they share their insights, experiences and humour in the world of property investment. Get ready for no-holds-barred discussions and debates on topics ranging from getting started in property investing, entrepreneurship and personal development.

Each episode offers actionable advice, thought-provoking perspectives, and real-life stories that weave together the threads of property investment and personal growth. With their unique blend of expertise and wit, Russell and Anna guide listeners through a dynamic entrepreneurial journey, shedding light on the opportunities, challenges, and triumphs along the way.

Whether you're a beginner dipping your toes into the property investing waters or a seasoned professional seeking fresh ideas and inspiration, the Property Investors Podcast is your go-to podcast for becoming a prosperous investor and a self-empowered individual. So, tune in and join the fun as our passionate and vibrant duo take you on a whirlwind adventure of property investment, entrepreneurship and self-improvement.

• No. of episodes: 81
• Latest episode: 2025-05-20
• Business Entrepreneurship Investing

Where can you listen?