After reading Property Tax For Landlords, I have come to the conclusion that everyone involved in property investment needs a book about property tax somewhere on their bookshelves.
For landlords, once you are past the first one or two properties in your portfolio, I would recommend seeking out a specialist accountant, but even when working with a specialist a book on the subject will a) act as a reference point and b) enable you to speak the same language as your accountant.
This hasn’t exactly been the easiest book I’ve read during the time I’ve been reviewing property books, mainly because it was not designed to be read from cover to cover. I have to confess to a little bit of skimming in some places (especially in the parts about how to fill in the tax forms) but please do not let that fact distract you from the value of the book. Tax is complicated enough most of the time; when you add property into the mix, you will need a reference – if only to understand why you need to work with a specialist.
Steve Sims (in conjunction with the RLA) has succeeded in the very difficult task of making this subject readable. I might draw the line at “interesting” (unless you love reading about taxes at bedtime) but it is definitely “of interest” if you want to make the best of your property business – because that will involve knowing the tax rules and planning accordingly.
Is it up to date? At the time of writing (autumn 2015), yes it is. Following the Chancellor’s Budget announcements a couple of months ago, things will be changing again in 2016, but change is one of the constants in the tax world. If there is a good reception for this book it will be updated annually. So go get your copy now and keep up to date!