foreveryoung Posted June 14, 2023 Share Posted June 14, 2023 2 hours ago, StefanAVFC said: I mean you literally are rich. Sell them and you're a millionaire. In assets you already I guess, but not until they are paid for, then the rented properties are taxable. Link to comment Share on other sites More sharing options...
foreveryoung Posted June 14, 2023 Share Posted June 14, 2023 1 hour ago, tinker said: Is the license tax deductible? Don't think so. I asked to pay it monthly and the guy as good as laughed. Link to comment Share on other sites More sharing options...
tinker Posted June 14, 2023 VT Supporter Share Posted June 14, 2023 4 minutes ago, foreveryoung said: Don't think so. I asked to pay it monthly and the guy as good as laughed. If your not making money on the properties and work Paye then fill a tax return in and claim the loss against your tax, bickster pays a licence fee for his taxi and claims tax relief on it, property can be treated differently but you need to speak to someone who can make sense of it all. 1 Link to comment Share on other sites More sharing options...
TheAuthority Posted June 14, 2023 VT Supporter Share Posted June 14, 2023 5 hours ago, StefanAVFC said: I mean you literally are rich. Sell them and you're a millionaire. In assets you already are. Not if he owes the mortgage company 95% of what they’re worth! 1 Link to comment Share on other sites More sharing options...
Genie Posted June 14, 2023 Share Posted June 14, 2023 20 minutes ago, TheAuthority said: Not if he owes the mortgage company 95% of what they’re worth! And the 20% capital gains tax on any profit. 1 Link to comment Share on other sites More sharing options...
bickster Posted June 14, 2023 Moderator Share Posted June 14, 2023 1 minute ago, Genie said: And the 20% capital gains tax on any profit. If he's earning CGT the £700 will offset that, so 700 becomes 560 so now we're down to under £50 a month 1 Link to comment Share on other sites More sharing options...
bickster Posted June 14, 2023 Moderator Share Posted June 14, 2023 25 minutes ago, TheAuthority said: Not if he owes the mortgage company 95% of what they’re worth! Doubt anyone will get a buy to let mortgage with 5% equity Link to comment Share on other sites More sharing options...
Genie Posted June 14, 2023 Share Posted June 14, 2023 4 minutes ago, bickster said: If he's earning CGT the £700 will offset that, so 700 becomes 560 so now we're down to under £50 a month It was more about the claim he was rich/a millionaire cos he had a second property. 1 Link to comment Share on other sites More sharing options...
bickster Posted June 14, 2023 Moderator Share Posted June 14, 2023 Just now, Genie said: It was more about the claim he was rich/a millionaire cos he had a second property. Do you know any poor people with three homes? Link to comment Share on other sites More sharing options...
foreveryoung Posted June 14, 2023 Share Posted June 14, 2023 4 minutes ago, bickster said: If he's earning CGT the £700 will offset that, so 700 becomes 560 so now we're down to under £50 a month It's actually £700 for 5 years. But as I said its the principle of it, an that they think you have £700 knocking about, as you can only pay in full. Link to comment Share on other sites More sharing options...
bickster Posted June 14, 2023 Moderator Share Posted June 14, 2023 Just now, foreveryoung said: It's actually £700 for 5 years. But as I said its the principle of it, an that they think you have £700 knocking about, as you can only pay in full. That’s £10 a month, it’s not much more than my taxi licence Link to comment Share on other sites More sharing options...
foreveryoung Posted June 14, 2023 Share Posted June 14, 2023 2 minutes ago, bickster said: Do you know any poor people with three homes? Maybe not poor, but not rich either, certainly not millionaire rich. Link to comment Share on other sites More sharing options...
Genie Posted June 14, 2023 Share Posted June 14, 2023 (edited) 3 minutes ago, bickster said: Do you know any poor people with three homes? I know a couple people who have a second property who are far from rich. I don’t know anyone with 3 though. Eg, couple live in a small flat then bought a small house but kept the flat. They are actually always skint. Someone else had a flat again, then moved in with his now wife but still owns the flat. Not wealthy either. Edited June 14, 2023 by Genie Link to comment Share on other sites More sharing options...
TheAuthority Posted June 14, 2023 VT Supporter Share Posted June 14, 2023 19 minutes ago, bickster said: Doubt anyone will get a buy to let mortgage with 5% equity Don’t people just lie and say they are going to live there? Link to comment Share on other sites More sharing options...
bickster Posted June 14, 2023 Moderator Share Posted June 14, 2023 4 minutes ago, TheAuthority said: Don’t people just lie and say they are going to live there? Bit of a big risk. Even then normal mortgages with 5% equity are pretty rare too 1 Link to comment Share on other sites More sharing options...
bickster Posted June 14, 2023 Moderator Share Posted June 14, 2023 17 minutes ago, Genie said: I know a couple people who have a second property who are far from rich. I don’t know anyone with 3 though. Eg, couple live in a small flat then bought a small house but kept the flat. They are actually always skint. Someone else had a flat again, then moved in with his now wife but still owns the flat. Not wealthy either. So they say. Link to comment Share on other sites More sharing options...
BOF Posted June 14, 2023 Moderator Share Posted June 14, 2023 8 hours ago, StefanAVFC said: maybe for religion thread too People are **** morons. 1 Link to comment Share on other sites More sharing options...
villa4europe Posted June 15, 2023 Share Posted June 15, 2023 Shouldn't piss me off... I'm on an all inclusive holiday, been good, wouldn't say great, the hotel has things that aren't included... They do an all inclusive + which set the alarm bells off, named top shelf booze is extra but that's pretty normal imo, the bar has ice creams but you have to pay for them, there's a sports bar with bowling that you have to pay for and nachos at the bar which are €4, there's also the themed restaurants which you have to book and can only do once in the 7 day stay which I hate Hadn't been AI for 20 years then done 2 in the last year cos of the kids and the difference between the 2 hotels is night and day, better one being turkey poorer one being Malta but Malta making for a better cleaner destination, the big Turkish resort hotel was miles better though Link to comment Share on other sites More sharing options...
Genie Posted June 15, 2023 Share Posted June 15, 2023 4 minutes ago, villa4europe said: Shouldn't piss me off... I'm on an all inclusive holiday, been good, wouldn't say great, the hotel has things that aren't included... They do an all inclusive + which set the alarm bells off, named top shelf booze is extra but that's pretty normal imo, the bar has ice creams but you have to pay for them, there's a sports bar with bowling that you have to pay for and nachos at the bar which are €4, there's also the themed restaurants which you have to book and can only do once in the 7 day stay which I hate Hadn't been AI for 20 years then done 2 in the last year cos of the kids and the difference between the 2 hotels is night and day, better one being turkey poorer one being Malta but Malta making for a better cleaner destination, the big Turkish resort hotel was miles better though Sounds like my experience of recent AI’s too. My children are 10 & 12 so now coming out of the age where we just want convenience so will probably do less AI going forwards. I don’t have an issue with chargeable extras personally. As long as all the basic regular stuff is readily available “free”. Most places i’ve been to have had ice creams free though (usually little pots that look like yogurts). Then if you want a Magnum you can, but you buy it. Last place I went to (Holiday Village) also had slushies in the AI which was great for the children. There’s usually so much inclusive food around the clock paying for extras really isn’t necessary. Link to comment Share on other sites More sharing options...
villa4europe Posted June 15, 2023 Share Posted June 15, 2023 3 minutes ago, Genie said: Sounds like my experience of recent AI’s too. My children are 10 & 12 so now coming out of the age where we just want convenience so will probably do less AI going forwards. I don’t have an issue with chargeable extras personally. As long as all the basic regular stuff is readily available “free”. Most places i’ve been to have had ice creams free though (usually little pots that look like yogurts). Then if you want a Magnum you can, but you buy it. Last place I went to (Holiday Village) also had slushies in the AI which was great for the children. There’s usually so much inclusive food around the clock paying for extras really isn’t necessary. The turkey one I went to had magnums included! They had little ice cream fridges dotted around with magnums and cornettos to help yourself, they also had little drinks trucks around the huge pool so it was only like a 30 second walk for a beer no matter where you were whereas this one is a good 5 mins to 1 bar, like as I'm here now in the kids club area my wife's gone for a 15 minute walk there and back to get me a coke cos everywhere else is closed until later, turkey put bottles of coke in your fridge every day Like I said should piss me off cos it's all perfectly fine I've just been spoiled elsewhere I guess 1 Link to comment Share on other sites More sharing options...
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