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House Price Crash Forum


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Posts posted by roger196

  1. In a nursing home, the life expectancy is about 9 months. This means that 11% of the inmates will die each month. If they have all been vaccinated, will the deaths be attributed to the vaccine? Each inmate may die from the vaccine or with the vaccine. How are these distinguished? How does one tell whether the vaccine has enhanced the comorbidities or had no effect or somewhere inbetween?

  2. The reason for the distinction is tax. If BTL were a business, disposals would qualify for entrepreneur relief reducing capital gains tax to 10% ( see HMRC manual CG63955) and would be free of inheritance tax. Losses would be allowed against income tax. The Treasury is very keen not to lose the amount of tax that would be lost if business was conceded.

    There is a saying ( from an old Indian tax case that I have long since forgotten) that you do not have to be busy to be in business. If you want to research this area look up adventures in the nature of trade......it is possible to buy up agricultural land, wait 10 years for planning permission and sell at a huge profit without doing very much.

  3. If the EA is going to bring  unknown persons into your house, have you thought of asking for the risk assessment ( Health and Safety), the name and address of the persons and what steps the EA has taken to verify these. Also ask the LL for an undertaking to refund any items which are stolen or damaged as a result of the visit. If you have children, ask whether  the EA and the persons he will be bringing been CRB checked.

  4. First thing to do is to download the deeds( plus plans) for your own house and that of your neighbours. Use the official land registry site as the cost is £3 per document. This will tell you whether there is any substance to their claim. Assuming there is not, a letter to the senior partner pointing out their mistake ( with a request that they acknowledge that they accept the position) should be sufficient without getting heavy.

  5. I've never come across this before , just how common is it?

    Very common with local authority land sold at auction. I imagine enforcement would be by way of bankruprtcy order. Land with uplift clauses are a useful form of intergenerational investment ie I buy land with substantial potential to pass to my children provided I have no need of capital for 25 years. Woodlands are a similar very long term investment ie it takes 80 years for oak trees to grow to harvset stage.

  6. Has anyone got any figures as to exactly what the 'extra' children in benefit families is actually costing the tax payer? I'd guess it's a very small % of the overall benefits package meaning a lot of childhood misery for not much in the way of savings.

    . Restricting child benefit to two children would save £800 million annually.

    The saving would eventually be ( assuming existing children had protected rights)

    No of families with x children times excess of children over two


    3 children 929 x 1 = 929

    4 children 236 x 2 = 472

    5 children 59 x 3 = 177

    6 children 23 x 4 = 92

    Total = 1670 x £9.30 = £15,600,000 per week

    or £811 million per annum

    This calculation was made by me back in 2000 as part of a paper I gave on welfare reform. The rate per week obviously needs updating.

  7. In April 2010, the Nationwide monthly seasonally adjusted index was 334.1, whilst for July 2013 the index was 332.7. This would suggest there had been no movement in house prices. Might be worth checking my figs against the Nationwide website.

    Knowing your budget gives the ea leverage in upping your offer. Are you buying up to the max you can afford or by the value to you of a particular house.

    Hope this helps.

  8. Just remember that extensions are not always built to plan and sometimes in a slightly different location. If the difference is small, the local council will usually not bother. Yet what might have been acceptable to you is no longer acceptable. The cost and aggro of getting things put right is very high even if you succede. The quality of workmanship and tidiness of tradesmaen vary enormously.

  9. The histogram shows the distortion to declared prices round the cliff edge points. If you include other consideration eg inflated price for fixtures and fittings, then there is much less distortion. Many people have called for banding of stamp duty to be like income tax. I know I did back in the eighties and it probably was not original then. I have yet to see any convincing reasons for continuing with the existing format.

    A log normal graph is more suitable for data which moves in factors of ten eg decibels or you suspect dependent on the square or cube of the variable. If you exclude the London market from the histogram, then the right hand tail is much diminished.

  10. The only way we can survive is the economy growing.

    A shrinking, or at best flat lining economy, will make running a balanced budget and reducing debt more difficult in the long term.

    I fail to see how slashing public spending, welfare payments etc is going to get the economy to grow. Taking all the demand out of our economy is a bad thing surely?

    It is always strange for me when I see people on here baying for more austerity - do your jobs not rely on people having money to spend?

    You need to cut welfare payments that are likely to be spent overseas eg on foreign holidays or on capital items like BTL which encourages house inflation. A broad definition of welfare helps to identify the solution . I would include excessive salaries in the public sector....cutting all these to £52k pa would have much less impact on domestic demand than cutting the JSA payments to the unemployed.

  11. IMO, The government would issue bonds to honour the 85k guarantee. They would be rather like war loan or post war credits, not repayable for a number of years or earlier death. They would pay a derisory rate of interest. I would expect that the first 5k in total for each individual to be payable in cash with the balance by means of bonds.

  12. Sometimes it is because the landlord and tenant are related.

    Sometimes it is being done to create what is effectively a tenancy for life.

    Sometimes it is to reduce IHT by reducing the value of the freehold and creating value for the tenancy without there being a transfer of value.

    Just guessing as I do not sufficient detail.

  13. One needs to consider where reduction in expenditure will fall. A highly paid local government officer receiving a pay cut of £10,000 is most likely to cut back on foreign holidays or at leatst on imported goods. The marginal propensity to spend overseas is the critical factor.

    Sacking someone on £15,000 will not save money overall as their salary is replaced by benefits. Most in this range on on 90% marginal rate of tax/ benefit withdrawal. Similarly offering generous redundancy packages merely shifts the expenditure to the pension heading.

  14. An easy solution to their debts.

    Just go bankrupt.

    I believe Spanish bankruptcy law is different and that the mortgage debt is not wiped out. What the position is for a Spanish debt if you go bankrupt in the UK, I have no idea.

    Anybody with good knowledge of Spanish law relating to mortgage debts?

  15. I know that to some extent the horse has already bolted, but I thought it would be worth enquiring about this. The Editors' Code of Practice is here:

    The present discussion on the cap for housing benefit has an impact on rent levels and house prices. I think a journalist should disclose if he has a BTL property as his own financial position is effected by these price movements. The public should be able to distinguish between someone who is financially disinterested and one who is not.

  16. "MIRAS, was a scheme introduced in the United Kingdom by Chancellor of the Exchequer Roy Jenkins in 1969 in a bid to encourage home ownership; it allowed borrowers 'tax relief' for interest payments on their mortgage."

    Tax relief on mortgage interest goes back much much earlier. MIRAS was just a method of allowing it rather than the old yellow cards 13.

  17. As an idea to get around the delays, bureaucracy and downright corruption of our planning laws:

    You pay for planning permission. And you pay the amount that an independent valuer says that it will increase the value of the land.

    So if you want to put a mansion in a field go ahead, but if that increases the value of the field from £50k to £0.5m you pay £450k to the council.

    As it is getting that sort of planning permission is like winning the lottery, why not make it fair.

    Look up Development Land Tax which tried a variation of this.

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