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House Price Crash Forum

Downtown Brown

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About Downtown Brown

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    HPC Newbie
  1. Last night was yet another repeat in this so called 'New Series'. As far as I can remember the first 2 were new and the 3 after that have all been repeats with some revisits. What's going on? Have they not found any new people, or have the people just pulled out of staring in this program as it's become clear to them that they are going to look more and more like plonkers as they lose more and more money. Anyone know what sort of contract you have to sign to take part? Can you just pull out if you wish?
  2. Surely the value of an asset (debt in some cases, in many more cases very soon!) can't be included in the cost of living index.
  3. This is where the real fun starts! You can bet your bottom dollar that there isn't £46k worth of equity left in this property but the difference between the purchase and sale price is what the owners Capital Gains Tax bill will be based upon when sold. Thanks for the hard work M21er............
  4. New series starts Wednesday I believe. I heard SB talking about it on the radio, she stated that some had still made large sums of money, although others had made very large loses indeed. As you say it sounds like great fun........
  5. The answer to this is quite simple: The banks use good old tried and tested mainframe technology IBM MVS DB2 CICS/Cobol and only use the 'modern' stuff as a front end. Regrettable the Government doesn't know a front end from it's rear and think they can do the whole thing on a UNIX box........... Cheers, DT.......
  6. No your PAYE is calculated first, interest on bank accounts second, CGT after your allowance third and finally dividends. So if you're a lower rate tax payer you would only paid 40% on the amount over the limit. At the time I was right at the limit of the 22% tax band, so all of my savings were due at 40%. This was around a £3k tax bill............ Cheers, DT...........
  7. I STR during the last HPC and there were two issues that I had not taken into consideration: 1. When the market does move back up it moves very quickly, although this may take years to kick in from the start of the downturn. I ended up buying my current house when I still had 6 months to run on my rental agreement. 2. If you're a 40% tax payer you will be getting a large tax bill at the end of the year for the missing tax from your high interest accounts as the tax deducted is @ 20%. This hit me when I had no spare cash left after putting it all into my current house. Good Luck, DT...........
  8. I did get pretty annoyed but I guess you may be correct. The fact that the IMF have been saying that UK houses were over valued 5 years ago doesn't mean they got it wrong. In fact they were too expensive 5 years ago, it's just a wee bit worse now! DT.........
  9. This is very true I fell for it! Bought in 1991 for £91k thinking it was a real bargain as it had already dropped from a high of around £115K. 2 to 3 years later it was worth low £50k's may have even been lower. The big problem with a HPC is that it's over a very long time period, the last one I believe was for around 6 years. This one could be even longer. DT........
  10. When the whole economy has been built on consumer spending financed from HPI regrettably there can only be one outcome and you are correct to feel your wish is in vain. Regards, DT.......
  11. Remember that it was only 40% if/when you're a higher tax payer. CGT was always calculated after other income had been taxed. My understanding (maybe wrong!) of the new rules is that it's 18% regardless. So if you don't work but just earn dosh from capital items such as Shares/Property you are going to paid 18% straight off after your CGT allowance. You can no longer use your personal allowance against it. Cheers, DT.......
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