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156 Spring Budget 2024 Special - Sam & Phil’s Take on FHLs, CGT & More
Manage episode 413383760 series 2971078
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Do the latest budget changes Impact your Agency? Sam and Phil delve into the recent budget announcement that has left many property professionals seeking answers!
Explore the unexpected cuts to Capital Gains Tax and the decision to freeze lower income tax brackets—actions that appear misaligned with the current economic realities of the housing market.
From the elimination of stamp duty reliefs to the perplexing adjustments in furnished holiday let taxes, discover how these changes are reshaping the industry.
Experience the effects of excess inventory and limited buyer numbers through understanding the broader implications of property valuations.
Arm yourself with strategies for effective cash management and seizing growth opportunities in a turbulent market!
Whether you’re a seasoned agent or entering the market, this episode offers crucial insights into thriving amid uncertainty.
Tune in to IGNITE your knowledge of the latest fiscal policies and learn how to expertly navigate your agency through the evolving housing landscape.
http://www.ajmastemind.co.uk/market-response-plan-spring24
When you’re ready here are 3 ways we can help you to IGNITE your agency:
1. Come see behind the scenes of AshdownJones in Windermere on this unique and FREE day! Book your spot here www.ajmastermind.co.uk/btsday
2. Listen to another episode: https://podtail.com/it/podcast/ignite-your-estate-agency/
3. Request an AJ Mastermind brochure by calling 015394 40892 or emailing emma@ajmastermind.co.uk
Ask your questions to Sam Or Phil: sam@ajmastermind.co.uk OR Phil@ashdownjones.co.uk
Engage with ambitious agency owners and grow your business by visiting our private Mastermind Facebook page: https://www.facebook.com/groups/ajmmforagencygrowth
If you have any questions please get in touch. Also, make sure you check out our upcoming events at: www.ajmastermind.co.uk/events
Some key takeaways:
➡️ The housing market faces challenges with new fiscal policies, such as the furnished holiday let adjustments and the freeze on lower income tax brackets, which could lead to an increase in property supply without addressing buyer demand.
➡️ Despite the tough market conditions, there are opportunities for growth and effective cash management, with strategies like running a lean business and focusing on revenue-generating activities.
➡️ Estate agents need to adapt to policy changes by continuing marketing efforts to build stock and prepare for potential future demand in the property market.
Some great moments:
✅ “There's a lot of holiday lets, that just aren't washing their face! The owners only holiday let them so that they can justify it to themselves financially”
✅ “If I can't get three million for it, I'm not going to sell this year!”
✅ “Instructions are cheap at the moment, so they're easy to get, easy to win, easy to poach!”
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