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Posts posted by mikthe20

  1. 14 hours ago, fru-gal said:

    So why do so many EU migrants come to the crappy UK when they can get better quality of life and benefits more or less immediately in other parts of the EU? I would go to Germany myself. 

    They speak English. If you're going to emigrate, it makes sense to go to one where you know the lingo even if poorly. And then vicious circle - they have mates here who know the system and how to fill out the forms.

  2. On 17/12/2016 at 10:44 AM, crashmonitor said:

    You would expect England football managers, even premiership managers come to that, to have so much money they got tempted into tax avoidance schemes. I found Sam Alladyce's home a little puzzling, a modest house with a small forecourt and overlooked by neighbours from every conceivable angle. Maybe he is waiting for a house price crash and went modest or this is his crash pad and the stately home is tucked away in the country. It would be about 250k tops around my way given its location on an estate.





    IIRC Allardyce is an "investor" in a company called The Film Development Partnership II LLP as well as the property tax avoidance scam.

  3. 4 minutes ago, Agentimmo said:

    Sure. they employ IFA's. but why not just say to the people you employ to run your affairs that you want to pay normal taxation and not to involve me in any complex tax scheme ? 

    Seems the simple solution.


    "You can't scam an honest man". I know two people who "invested" in the film scam - I wouldn't trust either of them.

  4. I've learnt to avoid the topic with friends. It's just not worth it - if you spout your opinion they think you're mad/jealous, and if (once) you're proven right they'll resent you. A good pal of mine bought a BTL recently after an inheritance - I shook his hand, congratulated and wished him luck. Some people can't be helped, especially when they are faithful members of the Church of HPI and the sermons come from the BBC (mass of worship every weekday at 11.15am on BBC1, other services throughout the week).

  5. 8 hours ago, Will! said:

    The Telegraph:  Italy to nationalise world's oldest bank as fury mounts over EU conduct (caveat:  It's Doombrose)

    If true then bad news for Banca Monte dei Paschi di Siena bondholders, but on a background of ongoing ECB QE I don't see much contagion for other Italian banks.  Am I wrong? 

    So it was founded to lend to sub-prime borrowers in 1472?!  :lol: Does "paschi" mean "wonga" in Italian (or Tuscan as I guess it was then)?

  6. 35 minutes ago, wonderpup said:

    The pardox in the EU is that a regime that draws it's legitimacy from the  ideal of popular consent now lives in fear of 'populists' who might gain enough support to bring about it's dissolution.

    But what if the populists are correct in their diagnosis that the Euro is indeed inimical to the interests of many Eurozone nations? At what point does the preservation of the EU in itself become a form of economic and political repression?


    Already happened when they crapped on Greece, and are keeping their boot in.

  7. 35 minutes ago, SarahBell said:

    Last week an accountant tried to tell me about some rent a room scheme where you dedicate a room in your house to your business and claim £4k a year off the company for it. I said I only use part of a room, and he said 'they never come and check' .. to which I said I would sleep better at night knowing that I wasn't lying to the tax man. He did seem taken aback by that though. 

    Perhaps these people also had accountants tell them they never check.

    I always assumed you'd then be liable for business rates with the council on that dedicated room. 

  8. 7 minutes ago, One-percent said:

    The way I read it (I maybe wrong, I am more often than not) is that this will impact on small leveraged landlords and not so much on those with a lot of properties or who own outright.  So, I would think that that number of MPs affected will me relatively small.

    it may be that this is the rich telling the plebs to get out of an area historically controlled by them.  

    Yep, that's how I read it too.

  9. 6 minutes ago, Nabby81 said:

    Parliament vote on terms of Brexit ( soft /hard / stodgy) which I imagine would mean all details of our side being made open for the EU to see at that point we then go to EU who say no no maybe no to various things then what ? Back to Parliament for more debate..


    Indeed. It's akin to Gordon Brown announcing to the markets well in advance that he was going to sell our gold. You can't negotiate a good deal if the other side know all the details and your limits.

  10. 8 minutes ago, durhamborn said:


    2011 it was 32% ,that doesnt include pensioners and the number is higher now.

    Here is the stats for the % of housholds getting more in benefits than paying in tax,its 53.4% 


    I presume it doesn't take into account those "tax payers" working in the public sector, who are really paid from tax rather than being net contributors. Would suggest therefore that about 38% of the adult population pay for everything. 

  11. 28 minutes ago, eek said:

    Not really, its grim for those stupid to leave things to the last second and are fleeced at an airport. For those who know how to play the game correctly you can still get approximately €1.10. Although but no worse than you would have got at an airport 2 months ago.

    Never understand people buying euros at the airport. Probably cheaper if they just get euros at a local cash point on arrival!

  12. 7 hours ago, thevaliant said:

    Except that this is completely unfair. There are many reasons (and many good small businesses) not to incorporate but to operate as a sole trader or partnership. Are you suggesting ALL businesses should be via limited companies? And if not, what is the difference between someone who does have a few properties who runs it as a business and (say) a hairdresser? Why should the first be forced to incorporate and the latter not?

    And what about LLP's? Are they allowed? Or not?

    I think the posts above have given you a decent response to my suggestion, but the housing market is unfair and favours landlords, who always claim to be entrepreneurs and run a business, so this would force them to behave that way. There is no doubt there is also serious tax avoidance by landlords. Running a limited company is not onerous or expensive with very little paperwork (after all a proper landlord will be doing an annual tax return anyway!) and will force people who claim to be "amateur" landlords to start behaving like professionals. We will also know exactly which houses are rented out, which we don't at the moment (amazing HMRC don't check against Land Registry but then they are genuinely understaffed. 

  13. I've said it on here before, but it should be compulsory that if you rent out a property you have to do it through a limited company. It is a business after all, and will stop huge amounts of tax evasion by not declaring rental income or the nonsense of the landlord "moving into" a previously rented property for a while to avoid capital gains tax.

    Very simple to implement too.

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