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About Houdini

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  1. And to show exactly how ill thought out Universal Credit is other ways... http://www.bbc.co.uk/news/uk-42036462
  2. Radio 4 You and Yours BTL Landlords selling up

    You buy a house every day?
  3. A limited company means that the money received is under your control immediately - the risk of the umbrella going bankrupt (it used to happen a lot) is mitigated. It also means you can control when and how much you pay yourself so allowing you income to be consisting through peaks and troughs. And to be blunt umbrella companies only exist because most Agencies don't want the hassle of paying people . I actually think umbrella companies should be banned - agencies should have a legal obligation to ensure people have a no cost payment option...
  4. Javid on Sky News right now

    But equally the final extremes of dodgy leveraging should be being removed by the capital requirements Basel III is going to require banks to hold... The days of an interest only loan at no cost are going to be gone...
  5. Any Chance Of Btl Being Regulated?

    Currently it needs to be fully implemented by March 31st 2019 (that week sound familiar to anyone).... https://en.wikipedia.org/wiki/Basel_III
  6. Any Chance Of Btl Being Regulated?

    Exactly what I was about to write. The weights are for a repayment mortgage based on cashflow - what about a mortgage that has no repayment plan attached to it with interest charges just about being paid from the cashflow - surely that has to be far, far higher risk as it depends on house prices increasing in the future... The more you look at it the insaner BTL interest only mortgages appear...
  7. I call slow bank run.

    Banks don’t need to borrow money form savers when the Bank of England offer it for free. that I believe is about to end and then the fun will begin
  8. I call slow bank run.

    Given that zopa is currently paying 4-5% I would need more than 0.5%
  9. I think butter is an extreme example. Various things created a glut in the market 2 years back resulting in a cull of cattle across Europe. The consequence of that is that supply is currently less than demand
  10. If you were working directly for an end client you wouldn’t need a limited company, you only need to use a limited company if you work via an agency.
  11. The question is remove the props suffer a recession and fix the issue while getting the blame or keep it going another couple of years. to be honest I doubt anything is going to keep this house of cards with quicksand foundations up much longer.
  12. This appeared on my news feed so it’s clear something is coming in the budget http://www.telegraph.co.uk/news/2017/11/13/overhaul-stamp-duty-budget-build-bungalows-tackling-housing/ however I’ve only ready he first 3 paragraphs and already have 3 wtf reactions 1) why do you need to build bungalows when you could build flights. Oaps actually like the social care such flights provide 2) why does stamp duty need modification - granted it may stop movement but the only examples I’ve seen are in markets with insane starting prices. A small 2 bed flat in Amersham (posh bucks with decent train links) is £600k when a 4 bed semi is only £900k there if no incentive to move 3) up north it would require some effort to find a starter home subject to stamp duty. Even if I moved to one of the best houses currently on the market it would only cost £10k. there is nothing there in the argument that house price sanity wouldn’t restore
  13. It’s a shame no one knows It wasn’t the taxman telling people to use limited companies - that came from agencies abusing self employment back in the late 70’s
  14. The rule is the 24 month rule. I will leave the rest of the argument as I doubt this is an interesting place to discuss it. What I will say is that IR35 nowadays (as is true about all fake self employment) is really about the employers' side of NI. That needs to be fixed but isn't a very easy thing to fix....