HOW long the property boom will last is anyone's guess.

It has been fuelled in part by low interest rates and poor performance on the stock market.

Many people see property investment as the best way of providing for retirement while giving a boost to their annual income. The sale of a let property these days normally gives rise to a capital gain taxed at your highest rate. Each individual has an annual exemption of £8,200, but this is of little help with spiralling house prices.

If you have ever lived in the let property, either before or after the letting, you can claim private residence relief which should wipe out a good proportion of the gain. In addition, remember to claim lettings relief, which can reduce the gain by as much as £40,000.

You may wish to consider taking in a lodger where there are spare rooms in the home. Did you know rent up to a maximum of £4,250 is tax free under the "rent a room" scheme? In addition, taking in a lodger should not affect your claim to private residence relief when you sell.

Property abroad is also now a popular way to invest. Remember, when you sell up you will be liable to capital gains tax in the UK and possibly in the overseas country.

Additionally, you will be liable to income tax in the UK and locally on any letting income. So make sure you obtain double taxation relief to avoid paying tax twice.

Back to business planning. Everyone in your organisation should now know all about the business plan. Any feedback, positive or negative, should have been addressed. So the next stage is to decide the specific tactics that are required in order to achieve your key objectives.

If one key objective is to increase your customer numbers by 50 per annum, then what are the tactics to achieve this?

I recommend that a brainstorming meeting is held, in small groups, to discuss each of the key objectives. The meetings should be led by the managers and all ideas suggested should then be collated and presented to the business owners for their consideration. However, it is up to the business leaders to ensure that the meetings take place.

These meetings give every team member the opportunity to assist in the business plan.

Finally for this month, I would like you to consider this quote by Sir John Harvey-Jones: "Leaders should do only what leaders can do."

Updated: 11:20 Tuesday, September 28, 2004